A Retail Rent Joint Value Discovery Tool API and PRRES Conference, 20th January 2020, Canberra…
Retail Convenience Store / Supermarket
Premises:
Retail Convenience Store / Supermarket
Parties:
Family owned business and landlord; very long-term relationship say 30 years
Lease conditions / lease terms: new 5 + 5 year lease offered;
Gross rent offered: $125,000 pa up from circa $105,000
Ran software modelling: used industry benchmarks; similar premises mainly in proximate area which supported circa $60,000 to $80,000 gross;
Outcome:
new 5 x 3 year lease commencing gross rent $80,000