9:27 25 November 2023
Implementing investments in shopping centers ain’t easy
Existing shopping centers require regular new investments, both due to their aging and changes in standards required by EU law. The law imposes obligations related to the property on the property owner – they relate to safety and compliance with current regulations. Unfortunately, landlords are trying to transfer these obligations to tenants. Tenants have been calling for equality in contracts between shopping center owners and shops and service points operating in these facilities for years. This applies in particular to the proper distribution of business risk between the parties to the agreements.
“Today in Poland, new galleries are practically not being built anymore. We have existing facilities. This means that tenants who sign lease agreements enter buildings and premises that have been operating for several or several dozen years,” Dr. Tomasz Henclewski, Partner at the Henclewski & Wyjatek Law Firm, said.
This is associated with numerous risks related to possible defects in given premises, as well as investments that need to be carried out in it. New guidelines often appear in the legal area - which results in the need to adapt to current regulations.
