Queensland Consolidated Acts

RETAIL SHOP LEASES ACT 1994 - SECT 29

In making a determination of the current market rent, the specialist retail valuer—

(a) must determine the rent—

(i) on the basis of the rent that would be reasonably expected to be paid for the retail shop if it were unoccupied and offered for leasing for the use for which the shop may be used under the lease or a substantially similar use; and

(ii) on the basis of gross rent less lessor's outgoings payable by the lessee under the lease; and

(iii) on an effective rent basis; and

(b) must not have regard to the value of the goodwill of the lessee's business or the lessee's fixtures and fittings in the retail shop; and

(c) must have regard to—

(i) the terms and conditions of the lease; and

(ii) submissions from the lessor and lessee about the market rent of the shop; and

(iii) the other matters prescribed by regulation.