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What does 3 x 3 lease mean?

Discussion in 'Commercial Property' started by kennyboi, 1st May, 2016.

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  1. kennyboi

    kennyboi Well-Known Member

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    23rd Jun, 2015
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    Hi,

    I wonder what does 3 x 3 lease mean for a commercial lease?

    I think it means options, but not exactly sure whether it means 3 year lease plus 2 lots of 3 year options?

    Thanks
     
  2. Beano

    Beano Well-Known Member

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    Thats correct one three year period plus 2 ROR
     
  3. D.T.

    D.T. Adelaide Property Manager Business Member

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    3yr + 3yr + 3yr renewal options
     
  4. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    As above, compared to 3 + 3 which is one initial term plus one 3 year renewal option