A 'lease pre-commitment' is an agreement to lease between a developer and a tenant over business space within a development which is yet to commence construction. Benefits typically flow to both parties from a pre-commitment; however, opportunities to pre-commit are limited by location, time, market forces and the negotiation strength of both the tenant and developer.
This paper is the first written on this subject specifically to assist the opportunity of the tenant community in engaging and transacting with the supply side representatives in the Australian property market. We strongly recommend commercial tenants who are considering the prospects of a pre-commitment transaction engage the services of a party who is independent and highly experienced in such transactions prior to engaging with supply side proponents.
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