IPS Consultants uses the Code of Practise for the Building and Construction Industry, adopted by the NSW State Government. An extract of the process flow is shown below:

IPS Consultants are experienced in tendering for the outsource of property and facilities management and are able to assist any property owner or leasehold manager in this process.

However, what is less understood, is who pays for this fitout?

According to a leading government source, “ it is all up for negotiation - and tenants who let the landlord know they want the shop more than the landlord wants them, give away their power in the negotiation.” In other words, it is possible to use this, as a negotiating chip in the tenant’s armory of items. Some tenants manage, to get a large contribution to fitout, or equivalent rent free period, while others get nothing.

I was only there for a couple of days, but met a retailer who has had two market rent reviews in two years and couldn’t get a valuer to assist him.

If leases were registered I have no doubt that more valuers would be prepared to take on tenant work. It would help greatly the setting of new market rents, particularly in shopping centres.

Even Milton Cockburn, the Executive Director of the Shopping Centre Council, has stated “compulsory lease registration should exist around Australia.”

It really is time WA came into line with New South Wales, the ACT, Queensland and the Northern Territory and registered retail leases.

Tina Perinotto from the Financial Review has recently published an article talking to Martin, myself and Milton Cockburn of the Shopping Centre Council of Australia. Click on the thumbnail article if you want to see a larger version.