Lease Assignment Agreement (Australia)
This Lease Assignment Agreement (the "Agreement") is made on [Agreement Date] between the parties listed below, in [State/Territory], Australia.
1. PARTIES
1.1 Assignor (Current Tenant): [Assignor Name], ABN [Assignor ABN], of [Assignor Address], email [Assignor Email] (the "Assignor").
1.2 Assignee (Incoming Tenant): [Assignee Name], ABN [Assignee ABN], of [Assignee Address], email [Assignee Email] (the "Assignee").
1.3 Landlord: [Landlord Name], ABN [Landlord ABN], of [Landlord Address], email [Landlord Email] (the "Landlord").
2. BACKGROUND
2.1 The Landlord and the Assignor entered into a [Lease Type] dated [Original Lease Date] (the "Lease") for the premises at [Premises Address] (the "Premises").
2.2 The Lease expires on [Lease Expiry Date], with a remaining term of approximately [Remaining Term] as at the assignment effective date.
2.3 The Assignor wishes to assign all of its right, title, and interest in the Lease to the Assignee with effect from [Assignment Effective Date], and the Assignee has agreed to accept the assignment on the terms of this Agreement.
3. ASSIGNMENT
3.1 With effect on and from [Assignment Effective Date] (the "Assignment Date"), the Assignor hereby assigns to the Assignee all of the Assignor's right, title, interest, and obligations in and under the Lease in respect of the Premises.
3.2 With effect from the Assignment Date, the Assignee accepts the assignment of the Lease and agrees to be bound by and to perform all of the tenant's obligations under the Lease for the remaining term from the Assignment Date, as if the Assignee were the original tenant named in the Lease.
3.3 The Assignee acknowledges having received and reviewed a copy of the Lease and all related documents, variations, and consents prior to signing this Agreement.
4. LANDLORD'S CONSENT
4.1 Consent: [Consent Status].
4.2 Conditions of Consent: [Consent Conditions].
4.3 The Assignor warrants that it has obtained all consents required under the Lease and applicable law to effect this assignment. The Assignor indemnifies the Assignee against any loss or liability arising from any failure to obtain a required consent.
5. SECURITY DEPOSIT OR BANK GUARANTEE
5.1 Security Arrangements: [Security Arrangement].
5.2 Required Security Amount: AUD $[Security Amount].
5.3 The Assignee must provide the required security in the form and by the date required by the Landlord as a condition of the assignment. If the Assignee fails to provide the required security by the required date, the Landlord's consent to the assignment may be revoked.
6. ASSIGNOR WARRANTIES
6.1 The Assignor warrants to the Assignee that, as at the date of this Agreement and as at the Assignment Date: [Assignor Warranties].
6.2 If any warranty in clause 8.1 is found to be incorrect, the Assignor must notify the Assignee immediately and the parties must negotiate in good faith to resolve the resulting situation.
7. STAMP DUTY AND COSTS
7.1 Stamp Duty: [Stamp Duty Responsibility].
7.2 Each party is responsible for its own legal costs in connection with the negotiation, preparation, and execution of this Agreement.
7.3 The Assignee is responsible for all costs incurred in obtaining the Landlord's consent to the assignment, including any fees charged by the Landlord or the Landlord's managing agent for processing the assignment application.
8. GENERAL PROVISIONS
8.1 This Agreement is governed by the laws of [State/Territory], Australia, and the parties submit to the exclusive jurisdiction of the courts of [State/Territory].
8.2 This Agreement constitutes the entire agreement between the parties with respect to the assignment of the Lease and supersedes all prior negotiations and representations.
8.3 This Agreement may only be amended by written agreement signed by all parties.
8.4 This Agreement binds and benefits the parties and their respective successors and permitted assigns.
8.5 Time is of the essence with respect to all dates and deadlines in this Agreement.
8.6 If any provision of this Agreement is invalid or unenforceable, the remaining provisions continue in full force and effect.
EXECUTION
This Agreement is executed by the parties on the date first written above.
ASSIGNOR
[Assignor Name]
ABN: [Assignor ABN]
ASSIGNEE
[Assignee Name]
ABN: [Assignee ABN]
LANDLORD (CONSENT)
[Landlord Name]
ABN: [Landlord ABN]
Assignor
________________
Signature
Date: ________________
Assignee
________________
Signature
Date: ________________
Landlord (Consent)
________________
Signature
Date: ________________
What Is a Lease Assignment Agreement (Australia)?
A Lease Assignment Agreement in Australia grants a tenant the right to occupy residential premises and records the rent, bond, term, and the repair and notice obligations of landlord and tenant under the Real Property Act 1900 (NSW).
In Australia, lease assignments are governed by the property law legislation in each state — the Conveyancing Act 1919 (NSW), the Property Law Act 1958 (VIC), the Property Law Act 1974 (QLD), and their equivalents in other states — as well as the terms of the original lease. For retail leases, additional requirements apply under the applicable state Retail Leases Act, including restrictions on a landlord's ability to unreasonably withhold consent to an assignment.
Lease assignments most commonly arise in the context of the sale of a business. When a business that operates from leased premises is sold, the purchaser typically requires that the vendor's lease be assigned to them as part of the business acquisition. The lease may be a key business asset — particularly in retail where the location drives significant customer traffic — and the purchaser will want to confirm that they have the right to continue operating from the same premises on the same or similar terms.
Lease assignments also arise where a tenant needs to exit a lease early, where a corporate tenant undergoes a restructuring that involves the transfer of the lease to a related entity, or where an individual tenant needs to transfer the lease to a company or trust for business purposes.
The legal framework governing the Lease Assignment Agreement (Australia) in Australia draws on several key statutes and regulatory bodies. Under state and territory residential tenancies legislation, including the Residential Tenancies Act 1997 (Vic), Residential Tenancies Act 2010 (NSW), and equivalent Acts in other jurisdictions, tenancy tribunals (NCAT in NSW, VCAT in Victoria) adjudicate disputes. The Real Property Act 1900 (NSW) and Transfer of Land Act 1958 (Vic) govern property registration through state land registries. Section 52 of the Australian Consumer Law (Schedule 2, Competition and Consumer Act 2010) prohibits misleading conduct in property transactions. The Foreign Acquisitions and Takeovers Act 1975 (Cth) requires FIRB approval for foreign purchasers. Parties executing a Lease Assignment Agreement (Australia) in Australia should confirm the document reflects current law, including any amendments enacted since the original drafting date. The Real Property Act 1900 (NSW) sets the foundational requirements.
When Do You Need a Lease Assignment Agreement (Australia)?
A Lease Assignment Agreement is needed whenever a tenant wishes to transfer their interest in an existing commercial, retail, or residential lease to a third party with the landlord's consent.
The most common situation in which a lease assignment is required is the sale of a business. A purchaser of a business that includes leased premises will invariably require the vendor to assign the existing lease to them as a condition of the sale. Without a formal assignment agreement, the purchaser has no legal right to occupy the premises, and the landlord could treat the occupancy as an unauthorised subletting and terminate the lease.
A lease assignment is also required when a tenant needs to exit a lease before the end of the term and finds an incoming tenant who is willing to take over the balance of the lease. This is an alternative to seeking the landlord's agreement to terminate the lease early and is often preferred by landlords because it preserves the continuity of the tenancy income stream.
Corporate restructurings, mergers, and acquisitions may also require lease assignments. When a business is acquired through a share purchase rather than an asset purchase, the existing lease usually remains with the target company and no assignment is required. However, when a business is acquired through an asset purchase — which includes the leases of the business's premises — each lease must be formally assigned with the landlord's consent.
A Lease Assignment Agreement should be executed before the assignment takes effect and before the incoming tenant takes possession of the premises. The landlord's consent must be obtained in advance of the assignment — executing a deed of assignment without prior landlord consent is a breach of the lease and could result in the landlord terminating the lease.
What to Include in Your Lease Assignment Agreement (Australia)
A well-drafted Lease Assignment Agreement must address all of the key issues that arise in a lease assignment transaction.
The parties section must correctly identify all three parties to the agreement — the assignor (outgoing tenant), the assignee (incoming tenant), and the landlord. All parties must sign the agreement for it to be binding, and the landlord's execution confirms their consent to the assignment.
The assignment clause must clearly state the effective date of the assignment and must confirm that the assignee accepts the assignment and agrees to be bound by all of the tenant's obligations under the lease from the assignment date. The assignee should acknowledge having received and reviewed the original lease before signing.
The consideration clause must document any lease premium payable and specify the payment terms. Even where no premium is payable, a nominal consideration should be included to satisfy the requirement for consideration in a binding contract under Australian contract law.
The landlord consent clause must record the landlord's consent and any conditions attached to that consent. Conditions commonly include the provision of a new bank guarantee by the assignee, the execution of a deed of covenant binding the assignee directly to the landlord, and the continued liability of the assignor (where no release is given).
The assignor release clause is one of the most important provisions from the outgoing tenant's perspective. It should clearly specify whether the landlord releases the assignor from all future obligations under the lease and, if so, the scope and extent of that release. The assignor's indemnity from the assignee (in the absence of a release) should also be clearly documented.
The stamp duty clause must allocate responsibility for any stamp duty arising from the assignment between the parties, and should include a mutual indemnity to the extent that each party's actions or omissions give rise to stamp duty liability.
Additional compliance elements for a Lease Assignment Agreement (Australia) used in Australia include: Under state and territory residential tenancies legislation, including the Residential Tenancies Act 1997 (Vic), Residential Tenancies Act 2010 (NSW), and equivalent Acts in other jurisdictions, tenancy tribunals (NCAT in NSW, VCAT in Victoria) adjudicate disputes. The Real Property Act 1900 (NSW) and Transfer of Land Act 1958 (Vic) govern property registration through state land registries. Section 52 of the Australian Consumer Law (Schedule 2, Competition and Consumer Act 2010) prohibits misleading conduct in property transactions. The Foreign Acquisitions and Takeovers Act 1975 (Cth) requires FIRB approval for foreign purchasers. Forms-legal.com provides this template as a starting point for Australia-compliant documentation.
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Reference this free template in an article, syllabus, or research note:
Forms Legal. (2026). Lease Assignment Agreement (Australia) (Australia) [Legal document template]. Forms Legal. https://forms-legal.com/australia/real-estate/leases/lease-assignment-agreement-australia
"Lease Assignment Agreement (Australia) (Australia)." Forms Legal, 2026, https://forms-legal.com/australia/real-estate/leases/lease-assignment-agreement-australia.
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title = {Lease Assignment Agreement (Australia) (Australia)},
year = {2026},
howpublished = {\url{https://forms-legal.com/australia/real-estate/leases/lease-assignment-agreement-australia}},
note = {Free legal document template. Based on Real Property Act 1900 (NSW)}
}Also available for these jurisdictions:
Frequently Asked Questions
In most Australian commercial and retail leases, the landlord's prior written consent is required before the lease can be assigned. The standard commercial lease clause requires that the tenant not assign the lease without the landlord's prior written consent, which is not to be unreasonably withheld. For retail leases, the applicable Retail Leases Act provides additional protection to tenants — in New South Wales, the Retail Leases Act 1994 (NSW) specifically provides that a landlord must not unreasonably withhold consent to an assignment and sets out the grounds on which consent may reasonably be withheld, including the proposed assignee's insufficient financial capacity, proposed change of permitted use, or failure to provide required security. If a landlord unreasonably withholds consent, the tenant may apply to the NSW Civil and Administrative Tribunal (NCAT) for an order that consent has been unreasonably withheld. For non-retail commercial leases, the position depends on the exact wording of the assignment clause in the lease — if the clause provides for consent at the landlord's absolute discretion, the landlord is not required to act reasonably.
Under Australian common law, an outgoing tenant (assignor) who assigns a lease does not automatically cease to be liable under the lease after the assignment takes effect. The assignor remains liable to the landlord as an original contracting party unless the landlord expressly releases the assignor from their obligations. This means that if the incoming tenant (assignee) defaults on the lease, the landlord can pursue the outgoing tenant for any unpaid rent or other lease obligations. The only way for the outgoing tenant to achieve a clean break from the lease is to negotiate and obtain a written release from the landlord at the time of assignment. Landlords are not always willing to grant a full release, particularly where the incoming tenant has less financial strength than the outgoing tenant. Where a release is not granted, the assignment agreement should include a clear indemnity from the incoming tenant to the outgoing tenant, covering any claims made by the landlord against the outgoing tenant arising from post-assignment defaults by the incoming tenant.
Whether stamp duty (also called transfer duty or landholder duty) is payable on a lease assignment in Australia depends on the state, the nature of the lease, and whether a lease premium or consideration is paid. In New South Wales, lease assignments are generally not subject to stamp duty under the Duties Act 1997 (NSW) unless the lease is for more than 30 years or the assignment involves a premium or premium-like consideration. In Victoria, the Duties Act 2000 (VIC) may apply to lease assignments in certain circumstances. In Queensland, duty under the Duties Act 2001 (QLD) is generally not payable on an assignment of a short-term commercial lease unless the assignment is part of a business acquisition with dutiable property. The position varies significantly across states and depends on the specific terms of the transaction. Parties to a lease assignment should obtain specific advice from the relevant state revenue authority or a solicitor to determine their stamp duty obligations before completing the transaction.
An incoming tenant (assignee) should carry out thorough due diligence before accepting an assignment of a commercial or retail lease in Australia. The due diligence process should include the following steps. First, review the original lease and all variations, consents, and correspondence to understand all of the tenant's obligations, including permitted use, rent review mechanisms, outgoings obligations, make good requirements, assignment restrictions, and options to renew. Second, verify that the outgoing tenant is current with all rent and outgoings payments and has not received any notices of breach or termination from the landlord. Third, inspect the premises to assess their current condition relative to the make good obligations — if the outgoing tenant has failed to maintain the premises, the landlord may look to the incoming tenant to remedy any deficiencies. Fourth, review the centre or building management rules, by-laws, or regulations to understand all obligations beyond the terms of the lease. Fifth, seek advice from a commercial solicitor and an accountant about the financial implications of the assignment, including the lease premium, stamp duty, and the potential liability exposure if the outgoing tenant is not released.
A lease premium (also called goodwill or key money) is a lump sum paid by an incoming tenant to an outgoing tenant in consideration for the right to take over the existing lease. Lease premiums are common in the following circumstances: where the existing lease has rent that is below current market levels (the 'goodwill' value reflects the benefit of the below-market rent); where the remaining lease term is particularly long or the lease contains valuable options to renew; where the lease is in a highly sought-after location in a shopping centre or prime commercial precinct; and where the assignment forms part of the sale of a business that includes the lease as a key business asset. The amount of a lease premium is purely a matter of commercial negotiation between the outgoing and incoming tenants and is typically determined by reference to the commercial value of the lease. Lease premiums should be carefully structured with legal and accounting advice, as they may have stamp duty implications (in some states), GST implications, and capital gains tax implications for the outgoing tenant.
This template is provided for informational purposes only and does not constitute legal advice. Laws vary by jurisdiction and change over time. Consult a qualified attorney for advice specific to your situation.Full disclaimer
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