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Commercial Real Estate Contract Form Template for England and Wales

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Key Requirements PROMPT example:

Commercial Real Estate Contract Form

"I need a Commercial Real Estate Contract Form for the purchase of a multi-tenant office building in Manchester city centre, with specific provisions for existing tenancy agreements and service contracts to be transferred to the new owner upon completion in March 2025."

Document background
The Commercial Real Estate Contract Form is essential for any commercial property transaction in England and Wales. It serves as the primary agreement between parties buying and selling commercial real estate, ensuring all aspects of the transaction are properly documented and legally binding. This contract type is specifically designed to comply with English and Welsh property law, incorporating necessary provisions for commercial transactions, including title warranties, property rights, and completion requirements. It's particularly important for ensuring clarity on matters such as VAT election, existing tenancies, and development rights.
Suggested Sections

1. Parties: Details of the seller and purchaser, including registered addresses and company registration numbers where applicable

2. Background: Context of the transaction, brief property description, and purpose of the agreement

3. Definitions: Defined terms used throughout the agreement including Property, Completion Date, Purchase Price, etc.

4. Property Description: Detailed description of the property including boundaries, rights of way, easements, and restrictions

5. Purchase Price: Amount, payment terms, deposit requirements, and method of payment

6. Title Guarantees: Seller's title warranties and guarantees regarding property ownership

7. Completion: Completion date, requirements, and procedures for transfer of ownership

8. Pre-Completion Obligations: Responsibilities of both parties before completion including searches and enquiries

9. Post-Completion Obligations: Requirements after completion including registration and notifications

Optional Sections

1. VAT Provisions: Required if the property is VAT-elected or the transaction is subject to VAT

2. Tenant Provisions: Details of existing tenancies and treatment of ongoing leases

3. Development Obligations: Construction or development requirements if property involves ongoing or planned development

4. Environmental Provisions: Specific environmental obligations or warranties where environmental issues are present

5. Service Charge Provisions: Details of service charge arrangements for multi-let properties

Suggested Schedules

1. Schedule 1 - Property Plan: Detailed plans and drawings showing the property boundaries and layout

2. Schedule 2 - Title Documents: List of title documents and official copies of the register

3. Schedule 3 - Tenancy Schedule: Details of existing tenancies including lease terms and rent rolls

4. Schedule 4 - Property Inventory: List of fixtures, fittings, and equipment included in the sale

5. Schedule 5 - Environmental Reports: Environmental surveys, assessments, and certificates

6. Schedule 6 - Planning Documents: Planning permissions, building regulations approvals, and certificates

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions



































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Relevant Industries
Relevant Teams
Relevant Roles
Industries

Law of Property Act 1925: Fundamental legislation governing real property law in England and Wales, establishing basic principles of property ownership and transfer

Law of Property (Miscellaneous Provisions) Act 1989: Legislation specifying formal requirements for property contracts and deeds, including the requirement for written contracts in property transactions

Land Registration Act 2002: Modern framework for land registration in England and Wales, governing how property ownership is recorded and transferred

Landlord and Tenant Act 1954: Key legislation governing commercial leases, including security of tenure for business tenants

Land Charges Act 1972: Legislation governing the registration of certain charges and other rights affecting land

Energy Performance of Buildings Regulations 2012: Regulations requiring commercial properties to have Energy Performance Certificates (EPCs) and meet minimum energy efficiency standards

Building Regulations 2010: Standards for building work, including construction, modification, and change of use in commercial properties

Planning and Compulsory Purchase Act 2004: Framework for planning permission and development control in England and Wales

Value Added Tax Act 1994: Legislation governing VAT implications on commercial property transactions and leases

Finance Act (SDLT provisions): Regulations concerning Stamp Duty Land Tax payable on commercial property transactions

Environmental Protection Act 1990: Framework for environmental protection, including waste management and contaminated land

Control of Asbestos Regulations 2012: Requirements for managing asbestos in commercial buildings and during property transactions

Environmental Permitting Regulations 2016: Controls on various environmental activities that might affect commercial properties

Health and Safety at Work Act 1974: Primary legislation for workplace health and safety, affecting commercial property use and maintenance

Regulatory Reform (Fire Safety) Order 2005: Fire safety requirements for commercial buildings and responsibilities of property owners

Money Laundering Regulations 2017: Requirements for due diligence and verification in commercial property transactions

Equality Act 2010: Legislation ensuring non-discrimination and accessibility requirements in commercial properties

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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