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Sublease Agreement For Commercial Property
"I need a Sublease Agreement For Commercial Property for subleasing part of my retail space (approximately 2,000 sq ft) in Manchester city centre to a café business, with the sublease term starting from March 2025 for 3 years with a break clause after 18 months."
1. Parties: Identification of the head tenant (as sublessor) and subtenant (as sublessee)
2. Background: Details of head lease and context of sublease arrangement
3. Definitions: Key terms used throughout the agreement including Property, Term, Permitted Use, Head Lease
4. Demise: The grant of the sublease, term length, and incorporation of head lease obligations
5. Rent and Payment Terms: Rent amount, payment dates, methods, and any review provisions
6. Tenant Covenants: Sublessee obligations including repair, maintenance, alterations, use restrictions, and compliance with head lease terms
7. Landlord Covenants: Sublessor obligations, warranties, and head lease compliance obligations
8. Insurance: Insurance obligations and requirements for both parties
9. Assignment and Underletting: Restrictions and conditions for further assignment or subletting
10. Termination: Events of default and termination provisions
1. Break Clause: Optional provisions for early termination rights for either or both parties
2. Service Charge: Provisions for shared services and facilities costs, applicable when property is part of larger building
3. Rent Review: Mechanisms for adjusting rent during the term, typically included in longer subleases
4. Alterations: Specific provisions regarding permitted and restricted alterations to the property
5. Security Deposit: Terms regarding any security deposit or rent deposit deed requirements
1. Schedule 1 - Property Plan: Detailed plan showing the demised premises and any shared areas
2. Schedule 2 - Head Lease Terms: Relevant provisions from the head lease that affect the sublease
3. Schedule 3 - Condition Schedule: Documentation of property condition at commencement of sublease
4. Schedule 4 - Rights and Reservations: Detailed list of rights granted and reserved in relation to the property
5. Schedule 5 - Service Charge Provisions: Detailed breakdown of service charge calculations and items covered
6. Appendix 1 - Head Landlord's Consent: Copy of superior landlord's consent to the sublease
7. Appendix 2 - Energy Performance Certificate: Current EPC for the property as required by regulations
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