Flooded Retailers devastated after leases cancelled

Retailers have been devastated by developer Mirvac’s cancellation of retail leases after Toombul Shopping Centre was flooded in February. One retailer says the news comes as a blow after a period without income but would be worse for those without insurance. A Mister Minit franchisee says the business was part of his retirement plan and that he will have to “start from scratch”. Business owners have been receiving letters informing them “it is impractical and undesirable to reinstate the centre to how it was prior to the flooding damage”.

This is an unfortunate story and may point to the worth of paying a lawyer to get sound advice first before entering into a lease and make sure you mitigate any potential risks. PHOENIX LAW & ASSOCIATES – here to help you. https://www.phoenix-law.com.au/  +61 (07) 3180 0908 | 1800-GET-HELP |e; info@phoenix-law.com.au |Level 16  300 Adelaide Street, Brisbane QLD.