Multi Storey Magic

Analysis showed there was considerable headroom available for either an increase in the base rent or a profit sharing device. The lease was also reviewed to bring it up to what was applicable in the current market and a number of clauses were substantially amended to provide the owner with greater visibility on trade as well as clearer definitions on financial reporting and parking levies.
A simple but equitable profit sharing mechanism was incorporated into the new lease. The new lease is forecast to show the owner an additional $4,000,000 in returns over the seven year term which will have the added benefit of a substantial increase in the properties valuation.