– SHOPPING CENTRE LEASE and ACT GROUND LEASE
permitted use of the lessee and the problem in getting the lessor’s approval for
a change in use. This is critical to the valuation of a lessee's interest. Lengthy and
restrictive clauses are common in shopping centre leases. For
example, draft menus have been annexed to restaurant leases.
the ACT the lease purpose clause of the ground lease can be modified
to allow another use if that use is not contrary to the Territory
Plan. The owner has to pay a betterment tax if the change results in
an increase in value.