Resolution Capital warns on rental lease ‘anarchy’

“The latest is Qantas threatening they’re going to leave their Sydney headquarters, which is leased from a REIT [real estate investment trust] with 12 years left on the lease. Good luck.

“Alan [Qantas chief executive Alan Joyce] is obviously doing his best to try and negotiate a better position because he’s seen his major competitor out there getting a cost advantage. So he’s doing what he should try and do.

“Unless we’re going to have literally anarchy in contracts then a lease is a lease is a lease.”

Cromwell Property Group owns Qantas’ headquarters and has the property leased to the national carrier until 2032.

Read More

LEAVE A REPLY

Please enter your comment!
Please enter your name here