Don E Gilbert

With 30 years of hands-on experience in multiple facets of the property industry, the last 20 focused on retail dynamics, including retail shop leases, retail property valuation and current market rent, Don is an experienced retail leasing consultant.

  • Australian Lease & Property Consultants Pty Ltd
  • B Com/B Econ; Dip Prop Val; Cert Med & Arbit.
  • CPV; MRICS
    (RICS accredited valuer expert and arbitrator; Firm Regulated by RICS)
  • Specialist Retail Valuer & Arbitrator
  • Accredited across Australia

Get In Touch

Email: dongilbert@auslease.com.au
Phone: +61 1300 413 789
Phone: +61 (0)40963 4223
Address: Mitchelton, Brisbane, QLD 4053, Australia
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+61 1300 413 789 dongilbert@auslease.com.au
Blog

Silver Jewellery Shop & Piercing Planet vs Telado

State/Jurisdiction:

https://www.sclqld.org.au/caselaw/QCAT/2013/561 . Gift wear Shop. Second SRV ordered to determine current market rent CBD Retail Shop.

Complexity: 8 / 10

Parties to Dispute: Silver Jewellery Shop & Piercing Planet v Telado Pty Ltd & G&J Drivas Pty Ltd [2013] QCAT 561 (RSL128-12) parties legally represented.

Our Instruction:

Make submission to SRV; on failing to determine current market rent in accordance with the Act, assist Tenant and legal advisors to overturn determination.

Description of Dispute:

Original rent was $292,000. Landlord proposed similar. Our evaluation suggested that reasonable rent ought to be circa $160,000 to $180,000.

How Settled:

The first Determining Valuer ‘plucked a fly off the wall’, used a rent for a lease that never came into existence and or it was for a completely different type of retail use. Rent “determined” aka sic at $253,000, exactly the same “number” if adjusted back over term of lease.
Second valuer determined current market rent as circa $212,000.

Comments:

Inflated rents may significantly inflate the value of any property. Prior to acquiring an investment property, it is strongly suggested that one tests the veracity of the leases and the rent levels.

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