Leaseproof

73 Forest Street, Castlemaine VIC 3450

RetailLot 1 on TP 217976EMount Alexander ShireLeased

Tenant: MMB Progressive TradingPet store
Annual rent: $75,000.00plus GST, $6,250.00 a month
Outgoings: 100% to tenantYou pay, then invoice
Next key date: 1 Dec 2026Upgrade the yard toilet
Security: $6,875.00Cash bond, 1 month plus GST

Leased, Lot 1
Licensed, Lot 2
Shared access

Redrawn from TP 217976E, not to scale. Original, p. 25

Lease term

3 years 11 months left of the initial term

Option 1 window Option 2 window Today

Initial term1 Sep 2026 to 31 Aug 2030 Option 1to 31 Aug 2033 Option 2to 31 Aug 2036

Next rent review: 1 Sep 2027Fixed 3.5%, to $77,625.00 plus GST
Option 1 window: 28 Feb to 31 May 2030Tenant gives notice in writing
Next market review: 1 Sep 2030If option 1 is exercised

Fixed 3.5% review
Market review
Option window

Needs you

Land tax is recoverable under the lease

Under the Retail Leases Act 2003 (s 50), land tax usually can't be recovered unless the tenant is a listed company or its subsidiary. MMB Progressive Trading isn't.

Lease, Item 13, p. 21 Listed check, 29 Sep 2026

Does the tenant run the business as your agent?

Needed to confirm the Retail Leases Act applies.

Add the bond receipt and latest rates notice

Coming up

1 Dec2026
Upgrade the yard toilet
Special condition 23.4
You
31 May2027
Send the outgoings estimate
For 2027-28. Clause 5.4.3
You
1 Sep2027
Rent review, fixed 3.5%
To $77,625.00 plus GST a year
You
30 Sep2027
Send the outgoings statement
For 2026-27. Clause 5.4.5
You

Rent

Monthly in advance on the 1st

Period	Review	Annual, plus GST	Monthly, plus GST
1 Sep 2026 to 31 Aug 2027 First month $3,373.00 after 2 weeks rent free	Starting rent	$75,000.00	$6,250.00
1 Sep 2027 to 31 Aug 2028	Fixed 3.5%	$77,625.00	$6,468.75
1 Sep 2028 to 31 Aug 2029	Fixed 3.5%	$80,341.88	$6,695.16
1 Sep 2029 to 31 Aug 2030	Fixed 3.5%	$83,153.85	$6,929.49
1 Sep 2030 to 31 Aug 2033 Option 1. Fixed 3.5% on 1 Sep 2031 and 2032	Market	Set at review
1 Sep 2033 to 31 Aug 2036 Option 2. Fixed 3.5% on 1 Sep 2034 and 2035	Market	Set at review

Parties

Landlord	R & M Taylor Super Pty Ltd ACN 662 725 206, as trustee for R & M Taylor Superannuation Fund	Item 1, p. 20
Landlord's address	11 Broad Road, Campbells Creek VIC 3451	Item 1, p. 20
Tenant	MMB Progressive Trading Pty Ltd ACN 629 356 467	Item 2, p. 20
Tenant's address	102 Lydiard Street, Ballarat VIC 3350 or the premises	Item 2, p. 20
Guarantor	Matthew Gane Barnes	Item 3, p. 20
Serving notices	By pre-paid post, delivery or email Posted notices count as received on the 7th day after posting	Cl 14.1 to 14.3, p. 16

Premises

Address	73 Forest Street, Castlemaine VIC 3450	Item 4, p. 20
Leased area	The part of Lot 1 on TP 217976E west of the access strip marked blue on the plan. Plus a licence over Lot 2 for storage, and shared access over the blue and green areas.	Item 4, p. 20
Title	Lot 1 on TP 217976E Derived from Vol 5102 Fol 220	Title plan, p. 25
Site	18.3 m by 50.3 m, frontage 18.29 m 60 ft by 165 ft on the plan	Title plan, p. 25
Property type	Retail	Item 14, p. 22
Permitted use	Pet store and related pet and animal supplies	Item 14, p. 22
Tenant's installations	Air conditioning Electric door Solar panels Shelving, aquariums and dog wash	Item 5, p. 20
Landlord's installations	Hay shed Yard toilet, upgraded by the landlord by 1 Dec 2026	Item 6, p. 20
Licensed area	Lot 2, external storage only, no works Either party can end the licence on 90 days' written notice Tenant pays all council rates for Lots 1 and 2 while licensed	Cl 23.3, p. 22

Term and options

Term

4 years

1 Sep 2026 to 31 Aug 2030

Item 7, p. 20

Options

Option	Length	Exercise window
1	3 years	28 Feb 2030 to 31 May 2030
2	3 years	28 Feb 2033 to 31 May 2033

Not earlier than 6 months and not later than 3 months before the term ends.

Item 8, p. 20

Final end date

31 Aug 2036, if both options are exercised

Holding over

Monthly tenancy on the same terms
Either party can end it on 1 month's written notice
Rent goes up 3.5% each 1 Sep while holding over

Cl 10.1, p. 14

Rent

Starting rent

$75,000.00 plus GST a year

$6,250.00 plus GST a month

Item 9, p. 21

Paid

Monthly in advance, on the 1st

Item 10, p. 21

Rent free

First 2 weeks. The rent due 1 Sep 2026 was $3,373.00 plus GST.

Cl 23.2, p. 22

Reviews

Date	Method
1 Sep 2027, 2028, 2029	Fixed 3.5%
1 Sep 2030	Market, if option 1 is exercised
1 Sep 2031, 2032	Fixed 3.5%
1 Sep 2033	Market, if option 2 is exercised
1 Sep 2034, 2035	Fixed 3.5%

Item 11, p. 21

Late payment

Interest at the Penalty Interest Rates Act 1983 rate on money unpaid 7 days after it's due

Cl 2.1.7, p. 7

GST

Rent is plus GST

Item 9, p. 21

Outgoings

Tenant's share	100%	Item 13, p. 21
How they're recovered	You pay and invoice the tenant	Cl 5.4.1, p. 11
Year	1 Jul to 30 Jun	Cl 1.1, p. 5
Recoverable	Council rates Water, sewerage and drainage rates Water usage Land tax Needs you Building insurance Public liability insurance Loss of rent insurance Glass, debris and installations insurance Insurance excesses Essential safety measures Fire equipment servicing Repairs and maintenance Heating and cooling services Cleaning Gardening and grounds Pest control Security services Waste collection Lighting No management fees (special condition 23.1).	Cl 1.1, p. 5
Tenant pays directly	Gas, electricity, water Internet and telephone	Cl 2.1.3, p. 7
Estimate	By 31 May each year, for the year starting 1 Jul	Cl 5.4.3, p. 11
Statement	By 30 Sep each year, for the year just ended	Cl 5.4.5, p. 11
Audit	An auditor's report with the statement if the Retail Leases Act requires one	Cl 5.4.6, p. 12
Essential safety measures	Tenant	Cl 3.2.11, p. 9

Security

Type	Cash bond	Item 15, p. 22
Amount	$6,875.00 1 month's rent plus GST	Item 15, p. 22
Guarantee	Personal guarantee and indemnity from Matthew Gane Barnes	Item 3, p. 20
Return	Refund the unused part once the tenant has vacated and met its obligations	Cl 13.4, p. 16

Insurance

Public liability	$20,000,000 minimum, in the tenant's name, noting your interest	Cl 2.3.1, p. 8
Other cover	Tenant's installations and property, full replacement value Glass breakage Anything required by law	Cl 2.3.1, p. 8
Insurer	A reputable APRA-authorised insurer	Cl 2.3.2, p. 8
Certificate	On your written request, no fixed date	Cl 2.3.3, p. 8

Repairs and make good

Tenant	Keep the premises in the condition at the start, fair wear and tear excepted Repaint at least every 5 years Clean, replace broken glass, repair windows, lights, doors and locks Maintain plumbing, drainage, gas, electrical, solar and sewerage Maintain grounds, gardens and air conditioning serving the premises Make repairs within 14 days of notice	Cl 3.1 to 3.3, p. 9
You	Keep the structure, external faces and roof in the condition at the start Keep your installations in the condition at the start	Cl 6.4, p. 12
Structural repairs	Not the tenant's, unless the tenant caused them	Cl 3.3, p. 9
Your access	Business hours with reasonable notice, any time in an emergency	Cl 3.2.8, p. 9
Make good	Return the premises clean, remove the tenant's installations and repair any damage from removing them	Cl 5.1, p. 11

Other clauses

Assignment and subletting	Needs your written consent, not to be unreasonably withheld if clause 4.3 is met	Cl 4.1 to 4.8, p. 10
Alterations	Needs your written consent. Your discretion for structural work or work needing a building permit.	Cl 2.2.11, p. 8
Signs	Needs your written consent and council approval. Permits at the tenant's cost.	Cl 2.2.10, p. 8
Special conditions	23.1 No management fees Admin, management fees and owners corporation levies aren't recoverable. 23.2 Rent free First 2 weeks of the term. 23.3 Licensed area Lot 2 for storage, 90 days' notice either way. 23.4 Yard toilet You upgrade it within 3 months of the start. 23.5 Town planning Subject to the Mount Alexander Planning Scheme. 23.6 Improvements Your consent for further works. 23.7 First right on a sale You negotiate only with the tenant for 30 days before selling. 23.8 Access Shared use of the blue and green areas on the plan.	Item 17, p. 22
Governing law	Victoria	Cl 1.4, p. 7

Documents

Document	Type	Pages	Dated	Read
Commercial Lease, 73 Forest Street, Castlemaine LIV lease with guarantee and indemnity. Includes title plan TP 217976E on p. 25.	Lease	25	31 Mar 2026	56 terms

73 Forest Street, Castlemaine VIC 3450

Lease term

Needs you

Land tax is recoverable under the lease

Does the tenant run the business as your agent?

Add the bond receipt and latest rates notice

Coming up

Key dates

Rent

Property

Plans in the documents

Tenant

Listed company check

Landlord

Parties

Premises

Term and options

Rent

Outgoings

Security

Insurance

Repairs and make good

Other clauses

Documents

Activity