Internet sales and the shopping centre tenants
schedule 22 April 2015
The inclusion of a provision on the online sales in the lease agreements for the shopping centre space requires a thorough analysis of the standard rules regulating lease contracts and an update of some of facility procedures. One of the most important issues here is to determine the principles on the turnover rents. Typical contractual clauses require a tenant to pay a turnover rent on the top of the base rent provided that the share of turnover specified in the contract is higher than the base rent. The key issue in constructing lease contracts is to determine what the term ‘turnover’ exactly means and what it includes. In the case of the so-called multichannel retailers, namely the shopping centre tenants which also run internet sales, the bone of contention typically derives from this issue.
It is because there are a few ways to make retail revenues nowadays: a customer can order a product online for home delivery using an in-store tablet or computer (and bypass the s
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