I was recently invited by Martin Dempsey, CEO of the WA Retailers Association to see the problems being encountered through lack of a registry for retail leases in WA.
I was only there for a couple of days, but met a retailer who has had two market rent reviews in two years and couldn’t get a valuer to assist him.
If leases were registered I have no doubt that more valuers would be prepared to take on tenant work. It would help greatly the setting of new market rents, particularly in shopping centres.
Even Milton Cockburn, the Executive Director of the Shopping Centre Council, has stated “compulsory lease registration should exist around Australia.”
It really is time WA came into line with New South Wales, the ACT, Queensland and the Northern Territory and registered retail leases.
Tina Perinotto from the Financial Review has recently published an article talking to Martin, myself and Milton Cockburn of the Shopping Centre Council of Australia. Click on the thumbnail article if you want to see a larger version.
Tags: Lease Data, media, WA, WA Retailers Association
Posted in Retail Leasing. Permalink for this post: permalink.
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