Aventus Oppose Woolworths move

15 March 2019

The Aventus Group is the Landlord under the lease of the ex-Masters tenancy at Cranbourne and received a request from Masters Home Improvement Australia Pty Ltd for its consent to a sub-lease for part of the premises. Aventus have not advised what issues they had with the request, however they have now received notice of an originating motion filed by the Masters in the Supreme Court of Victoria that seeks certain declarations with respect to obtaining the Landlord’s consent to the sub-lease. Aventus advised that they will be opposing the Tenant’s attempts to obtain the declarations. The proceedings do not impact the Head Lease which remains on foot, including the guarantee by Woolworths Limited for the performance by the Tenant of its obligations under the Head Lease. #Aventus