Curating the right mix of tenants as a commercial property owner can transform a great space into a valuable cultural experience for the people within that space. The centrality of people to the workplace has become a much talked about topic within the commercial real estate industry. Savvy property owners, in a bid to stand out in the real estate landscape, are filling their buildings with likeminded businesses that can leverage each other at a business level, together with the right blend of retail and hospitality amenities.
The result is a space that not only provides the day to day services tenants require, from food outlets to dry cleaning services, but also a carefully curated mix of office tenants that can provide professional services to each other.
Lessons we’re learning as Independent Property Advisors that keep our job fulfilling
For BRM, our services have always aimed to reach beyond the transaction itself. We put people at the centre of everything we do, from workplace consulting, to project management, workplace design, and in this case, property advisory.
Yes, property is about “closing the deal”, but many are quick to forget that the “deal” involves people, from the people who are making the deal, right down to the people who will be occupying and working in the actual space. For this reason, we see relationships as paramount to commercial property. Without stable and trustworthy relationships, a company facing a change in location, organisational structure or even the layout of its office desks, will encounter great difficulty.
By Guest Author, Rosalyn Gladwin, Gladwin Legal
It is quite commonly known that Landlords are responsible for costs and maintenance of safety requirements in retail premises in Victoria. This is the case under both the Building Act 1993 (Vic) and the Retail Leases Act 2003 (Vic).
There has been some contention about how the two acts operate, which both apply in the case of retail premises. The main question most landlords ask is: Can such obligations can be contracted out of or passed on to the tenant?
A recent Advisory Opinion in 2015 has helped to clarify the position of the law in regards to these issues. While Advisory Opinions are not legally binding, they are highly persuasive to Tribunals and Courts in hearing such decisions, especially given that there are many cases in support of the conclusions reached.
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