Although the artists appreciate the intervention that secured the lease until 2014, for security of their businesses they require longer leases. As a guide, The Commercial Tenancy (Retail Shops) Agreements Act (“CTA”) 1985 WA provides for a minimum tenancy of up to 5 years with an option for a further 5. The rationale for this is that any less does not allow for healthy planning for a business. These terms are in keeping with the original lease arrangements for the two studios and is what the artists are seeking – five years with a five-year option to renew. | Although the artists appreciate the intervention that secured the lease until 2014, for security of their businesses they require longer leases. As a guide, The Commercial Tenancy (Retail Shops) Agreements Act (“CTA”) 1985 WA provides for a minimum tenancy of up to 5 years with an option for a further 5. The rationale for this is that any less does not allow for healthy planning for a business. These terms are in keeping with the original lease arrangements for the two studios and is what the artists are seeking – five years with a five-year option to renew. |