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Letter Of Intent For Restaurant Lease
"Need a Letter of Intent For Restaurant Lease for a fine dining establishment in Singapore's Marina Bay area, planning to occupy 3,000 square feet with proposed lease commencement in March 2025, including specific requirements for kitchen ventilation and alcohol licensing."
1. Date and Parties: Identification of intended landlord and tenant with full legal names and addresses
2. Property Details: Specific details of the premises including exact address, floor area, and permitted use
3. Commercial Terms: Key terms including proposed rental, tenure, security deposit, and payment terms
4. Restaurant Concept: Description of intended F&B concept, operating hours, and business model
5. Timeline: Expected dates for lease execution, handover, fit-out period, and commencement
6. Non-Binding Nature: Statement clarifying the non-binding nature of the LOI except for specific binding provisions
1. Exclusivity Period: Period during which parties agree not to negotiate with others for the same premises
2. Due Diligence: Timeline and scope for conducting property and business due diligence
3. Conditions Precedent: Prerequisites that must be fulfilled before proceeding with formal lease
4. Costs and Expenses: Allocation of costs related to lease preparation, due diligence, and professional fees
5. Confidentiality: Obligations regarding confidential information exchanged during negotiations
1. Floor Plan: Detailed layout drawing of the premises
2. Preliminary Design Concept: Basic renovation and fit-out plans for the restaurant
3. Required Approvals Schedule: List of licenses, permits and regulatory approvals needed for restaurant operation
4. Proposed Timeline: Detailed schedule of key dates and milestones
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