In retail leasing, the Heads of Agreement is often one of the most underutilised and underrated documents in the retail leasing transaction.

Ground floor retail amenity can shape how a residential apartment development is experienced, positioned and remembered. When planned early through an ownership lens, the right mix of operators, services and infrastructure can become a positive part of daily experience and contribute to long-term project value.

Many leasing decisions are judged through familiar metrics such as occupancy, rental growth, WALE and tenant retention. While those indicators matter, they are not the objective. The real question is what ownership is trying to achieve. The same leasing recommendation can be commercially right for one owner and wrong for another, depending on whether the mandate is income stability, repositioning, total return or long-term asset performance.