Amended versions of the Model Commercial Lease (MCL) suite of documents will be available on the MCL website from 9.00 am on Wednesday 24 June 2015 (midsummer quarter day).
With a few exceptions, the changes are mainly of a drafting nature. The revised versions of the documents have been designated version 1.1.
The majority of the amendments have been suggested by users as a result of using the MCL documents in transactions. Other changes reflect points – mainly minor drafting issues – that have been identified by a number of firms that are preparing to replace their precedent leases with the MCL leases (or, in a number of cases, that have already done so).
The MCL Working Group is grateful to everyone who has provided comments and feedback. Feedback will always be welcome. Ideally please send comments in writing using the form on the Feedback/contact page on the MCL website.
Details of the changes
On 24 June, a new page headed “MCL changes June 2015” will be available on the Guidance section of the MCL website. On that page, you will find links to
- an explanatory note that highlights the changes that have been made and, where relevant, the reasons for making them. It will assist those who wish to make corresponding changes to documents that they have created on the MCL.
- a PDF document that shows the changes that have been made to the text of the lease for a shopping centre unit (MCL-RETAIL-07).
Downloading different versions of the MCL documents
From 24 June, the updated version of each MCL document can be downloaded by clicking on its number on the relevant page on the MCL website (for example, MCL-OFFICE-01 for the lease of a whole office building).
The original versions of the MCL documents are still available and will continue to be available for the foreseeable future. They can be downloaded by clicking on the link “All versions” which appears to the right of the document’s number.