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Commercial Real Estate Sales Agreement

Commercial Real Estate Sales Agreement Template for Australia

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Key Requirements PROMPT example:

Commercial Real Estate Sales Agreement

"I need a Commercial Real Estate Sales Agreement for the purchase of a multi-tenanted office building in Sydney CBD, with specific provisions for the assignment of existing leases and a staged completion process scheduled for March 2025."

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Document background
The Commercial Real Estate Sales Agreement is a crucial legal document used in Australian property transactions when transferring ownership of commercial real estate from a vendor to a purchaser. This agreement is essential for any commercial property sale in Australia, whether it involves office buildings, retail spaces, industrial facilities, or mixed-use developments. The document incorporates requirements from various Australian federal and state laws, including property law, consumer protection, and tax legislation. It provides comprehensive coverage of all aspects of the transaction, from initial due diligence through to completion, including property details, price, payment terms, warranties, and specific conditions. The agreement is designed to protect both parties' interests while ensuring compliance with Australian legal requirements and commercial property practices.
Suggested Sections

1. Parties: Identifies and provides full details of the vendor and purchaser, including ACN/ABN for corporate entities

2. Background: Outlines the context of the sale and the parties' intentions

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes rules for interpretation

4. Property Description: Detailed description of the property including lot number, title reference, address, and included fixtures/fittings

5. Purchase Price: Specifies the purchase price, deposit amount, and payment terms

6. Due Diligence: Sets out the due diligence period and requirements, including access arrangements and documentation to be provided

7. Conditions Precedent: Lists any conditions that must be satisfied before completion can occur

8. Pre-Completion Obligations: Details the obligations of both parties before completion, including maintenance of the property

9. Completion: Specifies the completion date, process, and requirements for settlement

10. Adjustments: Outlines how outgoings, rent, and other financial matters will be adjusted between the parties

11. Title and Transfer: Addresses requirements for clear title and the transfer process

12. Warranties: Contains vendor's warranties about the property and business

13. Default and Termination: Specifies consequences of default and termination rights

14. GST: Addresses GST treatment of the sale

15. Notices: Sets out how formal notices must be given under the agreement

16. General Provisions: Contains standard boilerplate clauses including governing law, entire agreement, etc.

Optional Sections

1. Tenant Provisions: Required when the property is sold subject to existing tenancies, addressing lease assignments and tenant obligations

2. Environmental Matters: Needed when there are specific environmental concerns or compliance requirements

3. Development Approvals: Required when the property has existing development approvals or applications

4. Property Management: Relevant when there are specific management arrangements to be transferred

5. Foreign Investment Approval: Required when the purchaser requires FIRB approval

6. Intellectual Property: Needed when the sale includes trading names, logos, or other IP associated with the property

7. Employee Matters: Required when there are employees associated with the property operation being transferred

8. Stock and Equipment: Needed when the sale includes inventory or specific equipment

Suggested Schedules

1. Property Schedule: Detailed description of land, improvements, and title particulars

2. Included Assets: Itemized list of fixtures, fittings, and other assets included in the sale

3. Excluded Assets: List of items specifically excluded from the sale

4. Lease Schedule: Details of all existing leases and tenancy arrangements

5. Due Diligence Checklist: List of documents and information to be provided during due diligence

6. Warranties Schedule: Detailed vendor warranties about the property

7. Encumbrances Schedule: List of all encumbrances, easements, and restrictions on title

8. Outstanding Orders Schedule: List of any outstanding orders or notices affecting the property

9. Contract Plans: Survey plans, floor plans, and other relevant property plans

10. Special Conditions: Any special conditions specific to the transaction

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions















































Clauses







































Relevant Industries

Commercial Real Estate

Property Development

Retail

Industrial

Office Space

Hospitality

Healthcare

Education

Logistics

Manufacturing

Professional Services

Banking and Finance

Legal Services

Construction

Relevant Teams

Legal

Real Estate

Property Management

Finance

Compliance

Risk Management

Operations

Facilities Management

Investment

Development

Acquisitions

Due Diligence

Commercial

Relevant Roles

Real Estate Director

Property Manager

Commercial Lawyer

Legal Counsel

Property Developer

Asset Manager

Facilities Manager

Investment Manager

Real Estate Agent

Commercial Property Broker

Chief Financial Officer

Development Manager

Acquisition Manager

Due Diligence Manager

Property Valuer

Compliance Officer

Risk Manager

Real Estate Investment Analyst

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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