The headline base rent before concessions.
Lease economics · Global, APAC
The headline base rent before concessions.
Face rent is the figure on the brochure. It is rarely the figure that determines economics. In Australia in particular, face rent and effective rent diverge by 30-40% — only the latter is meaningful.
Face rent is part of the lease economics vocabulary that institutional Class A occupiers, landlords, and advisers use across Global, APAC markets. Understanding it correctly affects how you read lease documents, model occupancy economics, and benchmark deal terms across cities. Class A Atlas tracks regional variation alongside the global standard so cross-border occupiers can translate quickly.