New Lease – but business owner prepared to vacate
Existing Gross Rent: $125,000 p/a
GEM™ Evaluation: $65,000 p/a
Via Mediation Small Business Ombudsman: $99,000 or thereabouts
Total 5-year Benefit: $138,000
Tenant missed exercising option for Market Rent for a lease with multiple 5-year options.
A GEM Lease Analytics™ report supported $65,000 or thereabouts. Tenant forced to refer to a Lawyer who specialised in retail leases. It was taken to Small Business Ombudsman for Mediation.
At mediation parties agreed to new five year lease with a saving of say $138,000.
