You are appointed as a property manager of a regional shopping centre you are currently negotiating a five year lease with a fashion store for 100 m of rentable space you make the following proposals to the store lease schedule a flat base rate rent of $500 per square metre per year turnover rent equals 10% of the gross sales in excess of 500,000 Lee schedule be a bass rent of 400 per square metre per year for the first two years and 500 per square metre per year for the next three years turnover rent equals 12% of the gross sales in excess of 400,000. Gross sales projected to be Year 1 - $360,000 Year 2 - $420,000 Year 3 - $500,000 Year 4 - $560,000 Year 5 - $600,000 A) briefly discuss the benefits of turnover rents for retail properties. B) calculate the annual rents payable by the store in the next 5 years for the 2 lease schedules C) assume that the owners discount rent is 8%. Calculate the effective rents for the two lease schedules. D) compare the 2 lease schedules. Discuss the conditions which schedule B is more advantageous to the shopping centre