Assignment
A client, Mick Burrows, emails you looking to lease 45/6 Forward Ave, Springfield, which is a commercial property with a floor area of 109sqm. It has been listed as $60,000 PA Net + GST + Outgoings. They would like to run a training facility and would like to know if there's parking availability for their students.
The following information provides additional information about the property:
1. Situated in the busy 7/11 Springfield Service Centre
2. High profile location with Exceptional signage opportunity
3. Join Major Global tenants, 7/11 and KFC
4. Positioned between National tenant's Subway and Tobacco station
5. Complex adjoining McDonalds Springfield
6. Access via Springfield Parkway and Nev Smith Drive
7. Walking distance to Springfield Fair Shopping Centre
8. Close proximity to schools
9. Directly opposite local sporting fields and skate park
10. Ample on-site customer parking
11. Male/Female amenities with disability access
12. Leasing incentives on offer by negotiation
The landlord is open to contributing to fit out costs provided that the lease is a minimum of three years.
Rent reviews to be conducted yearly. Bond payment of 3 months of total payable amount.
Task
A. Write an email responding to the email enquiry using the information from the case study. In your email, discuss the features of the property and explain how it would be suited the nature of their business.
B. The client emails back asking if the landlord would agree to cover some of the fit-out costs. Using the information provided to you in the case study, respond to the client in an email detailing what is required to receive fit-out incentives.
C. Write an email to the client to assess if they would like to proceed with the lease. Student responses must be in an email format. The email must demonstrate clear written communication skills. Student responses must be similar to the following benchmark:
D. The client responds back and advises you to go ahead with the lease and they would like to go for 4 year term, on the condition that the landlord contributes 50,000 dollars in fit out incentives. Prepare a lease agreement using the Commercial Lease Agreement using the following details:
a) 4 year term.
b) 60,000 PA NET + GST
c) Lessee to pay waste and water costs
d) Mick Burrows of Training Totality Ltd ACN 000 000 000 00
e) Fit out incentive of 50,000 dollars
f) Landlord: Landlord Supers Pty Ltd CAN 040 000 440 00
Attach the lease agreement to this task along with a copy of the email to the client explaining:
E. Prepare an email explaining you have attached a copy of the prepared lease agreement and confirm the required bonds, rent reviews and financial obligations with the client. Use the information from the case study to complete this task.
F. The client emails back and requests that the 50,000-dollar fit out incentive is provided as a cash payment. Revise the lease agreement with the client's and attach a copy of the revised agreement.
G. Prepare an email explaining you have attached a copy of the revised lease agreement and confirm with the client that they are happy to sign the lease.