(1) A
"retail shop lease" is a lease of a retail shop.
(2) However, a
"retail shop lease" does not include a lease of any of the following—
(a) a
retail shop with a floor area of more than 1,000m 2;
(b) a retail shop within
the South Bank corporation area if the lease is entered into or granted by the
South Bank Corporation and is either—
(i) a perpetual lease; or
(ii)
another lease for a term, including renewal options, of at least 100 years;
(c) premises used wholly or predominantly for the carrying on of a business by
a lessee for a lessor as the lessor’s employee or agent;
(d) premises in a
theme or amusement park;
(e) premises at a flea market, including an arts and
crafts market;
(f) a temporary retail stall at—
(i) an agricultural or
trade show; or
(ii) a carnival, festival or cultural event;
(g) premises
that, if the premises were not leased, would be premises within a common area
of a retail shopping centre, but only if the premises are used for 1 or more
of the following—
(i) an information, entertainment, community or leisure
facility;
(ii) telecommunication equipment;
(iii) an automatic teller
machine;
(iv) a vending machine;
(v) an advertisement display;
(vi)
storage;
(vii) parking.
(3) Also, a
"retail shop lease" does not include a lease of premises located in a
retail shopping centre if—
(a) the premises are not used wholly or
predominantly for carrying on a retail business; and
(b) at the time the
lease is entered into, either—
(i) if the premises are located on a level of
a multi-level building—the retail area of the level is 25% or less of the
total lettable area of the level; or
(ii) if the premises are located in a
single level building—the retail area of the building is 25% or less of the
total lettable area of the building.
Examples for paragraph (b)—
1 A
lease of premises for an accounting practice on level 4 of a
retail shopping centre is not a retail shop lease if, at the time the lease is
entered into, 75% of the total lettable area of level 4 is used wholly for
professional or commercial offices.
2 A lease of premises for a medical
centre in a stand-alone single level building within the parking area of a
retail shopping centre is not a retail shop lease if, at the time the lease is
entered into, 80% of the total lettable area of the building is used wholly
for providing medical services.
(4) The
"retail area" , for a level or building in a retail shopping centre, is the
area of the level or building comprising premises used wholly or predominantly
for carrying on retail businesses.
(5) The
"total lettable area" , for a level or building in a retail shopping centre,
is the total area of all the premises of the level or building that are—
