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Commercial Lease Agreement With Option To Purchase
"I need a Commercial Lease Agreement with Option to Purchase for a warehouse property in Melbourne, with a 3-year initial lease term starting March 2025, and an option to purchase at market value plus 5% during the final six months of the lease term."
1. Parties: Identification of the landlord/vendor and tenant/purchaser, including ABN/ACN and contact details
2. Background: Context of the agreement, including property details and parties' intentions regarding lease and potential purchase
3. Definitions and Interpretation: Defined terms and interpretation rules used throughout the agreement
4. Grant of Lease: Formal grant of lease, term, and commencement date
5. Rent and Outgoings: Rent amount, payment terms, outgoings, and review mechanisms
6. Security Deposit/Bank Guarantee: Details of security required and conditions for return
7. Permitted Use: Specified permitted uses of the premises
8. Maintenance and Repairs: Responsibilities for maintenance, repairs, and alterations
9. Insurance and Indemnities: Required insurance coverage and indemnification obligations
10. Option to Purchase: Terms and conditions of the purchase option, including price mechanism and exercise period
11. Exercise of Option: Process and requirements for exercising the purchase option
12. Settlement Provisions: Requirements and process for settlement if purchase option is exercised
13. Default and Termination: Events of default, remedies, and termination rights
14. Dispute Resolution: Process for resolving disputes between parties
15. General Provisions: Standard boilerplate clauses including notices, governing law, etc.
1. Property Manager: Include when a property manager is appointed to manage the premises
2. Fitout Works: Include when tenant improvements or initial fitout works are required
3. Environmental Matters: Include for properties with specific environmental considerations or obligations
4. Trading Hours: Include for premises in shopping centers or with specific operating hour requirements
5. Marketing and Signage: Include when specific provisions about advertising and signage are needed
6. Car Parking: Include when specific car parking rights are part of the lease
7. Building Management: Include for multi-tenanted buildings with shared facilities
8. Guarantee: Include when personal or corporate guarantees are required
9. Right of First Refusal: Include if tenant has rights to match third-party offers during lease term
10. Development Rights: Include if property may be developed or significantly modified during lease term
1. Schedule 1 - Property Details: Detailed description of premises, including lot number, plan, title references
2. Schedule 2 - Commercial Terms: Key commercial terms including rent, term, option periods, and purchase price
3. Schedule 3 - Tenant's Fitout Requirements: Specifications for any approved tenant improvements
4. Schedule 4 - Building Rules: Building rules and regulations for multi-tenanted properties
5. Schedule 5 - Condition Report: Detailed report of property condition at lease commencement
6. Schedule 6 - Outgoings: Detailed list of outgoings and allocation method
7. Schedule 7 - Special Conditions: Any special or additional conditions agreed between parties
8. Appendix A - Plan of Premises: Floor plan or survey plan of the leased premises
9. Appendix B - Memorandum of Option to Purchase: Detailed terms of the purchase option for registration purposes
10. Appendix C - Environmental Report: Environmental assessment or compliance documentation if required
Authors
Real Estate
Retail
Manufacturing
Warehousing and Logistics
Professional Services
Healthcare
Education
Hospitality
Technology
Industrial
Agriculture
Entertainment and Recreation
Financial Services
Legal
Finance
Operations
Real Estate
Facilities Management
Risk and Compliance
Corporate Development
Property Management
Asset Management
Business Development
Executive Leadership
Chief Executive Officer
Chief Financial Officer
Property Manager
Facilities Manager
Real Estate Lawyer
Commercial Lawyer
Legal Counsel
Operations Director
Business Development Manager
Finance Manager
Commercial Property Agent
Risk Manager
Compliance Officer
Corporate Real Estate Manager
Asset Manager
Leasing Manager
Transaction Manager
Property Development Manager
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