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Commercial Lease Option To Buy
"I need a Commercial Lease Option to Buy agreement for a warehouse property in Melbourne, with a 3-year initial lease term starting March 2025, and an option to purchase the property at market value plus 5% any time after the first 18 months of the lease term."
1. Parties: Identification of the landlord/vendor and tenant/purchaser with full legal details
2. Background: Context of the agreement including property details and intention to grant both lease and purchase option
3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement
4. Grant of Lease: Terms of the lease grant including commencement date and duration
5. Rent and Outgoings: Rental amount, payment terms, outgoings, and review mechanisms
6. Option to Purchase: Terms of the purchase option including price, exercise period, and mechanism
7. Exercise of Option: Process and requirements for exercising the purchase option
8. Use of Premises: Permitted use of the premises and any restrictions
9. Maintenance and Repairs: Responsibilities for maintenance, repairs, and improvements
10. Insurance and Risk: Insurance requirements and risk allocation
11. Default and Termination: Events of default, consequences, and termination provisions
12. Assignment and Subletting: Rights and restrictions regarding assignment and subletting
13. Costs and Stamp Duty: Allocation of legal costs, stamp duty, and other expenses
14. Notices: Requirements for giving notices under the agreement
15. General Provisions: Standard provisions including governing law, entire agreement, and variation
1. Fit-out Works: Details of any agreed tenant fit-out works and conditions - include when premises require modification
2. Environmental Matters: Environmental obligations and compliance - include for properties with potential environmental issues
3. Security Deposit: Terms of any security deposit or bank guarantee - include when additional security is required
4. Option to Renew Lease: Terms for lease renewal if purchase option not exercised - include when flexibility is needed
5. GST Provisions: Detailed GST treatment - include when parties have specific GST requirements
6. Property Manager: Appointment and role of property manager - include when third-party management is involved
7. Development Rights: Rights to develop or modify the property - include when development potential is relevant
1. Schedule 1 - Property Details: Detailed description of the property including title details and plan
2. Schedule 2 - Lease Terms: Key commercial terms of the lease including rent, term, and review dates
3. Schedule 3 - Purchase Option Terms: Detailed terms of the purchase option including price calculation
4. Schedule 4 - Permitted Use: Detailed description of permitted use and any specific conditions
5. Schedule 5 - Outgoings: Detailed list of outgoings and payment responsibilities
6. Appendix A - Plan of Premises: Floor plan or survey plan of the leased premises
7. Appendix B - Condition Report: Detailed report on the condition of the premises at lease commencement
8. Appendix C - Special Conditions: Any special or additional conditions agreed between the parties
Authors
Real Estate
Retail
Hospitality
Professional Services
Manufacturing
Warehousing and Logistics
Healthcare
Technology
Education
Financial Services
Construction
Industrial
Legal
Finance
Operations
Real Estate
Property Management
Risk and Compliance
Business Development
Facilities Management
Corporate Services
Asset Management
Chief Executive Officer
Chief Financial Officer
Commercial Property Manager
Real Estate Director
Legal Counsel
Property Development Manager
Business Development Manager
Operations Manager
Facility Manager
Contract Manager
Risk Manager
Finance Director
Managing Director
Leasing Manager
Asset Manager
Property Portfolio Manager
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