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Negotiating Commercial Lease Letter Of Intent
"I need a Negotiating Commercial Lease Letter of Intent for a retail unit in Manchester city centre, where my company will be the tenant taking a 10-year lease starting March 2025, with specific requirements for fit-out works and a 6-month rent-free period."
1. Parties: Full legal names and addresses of landlord and tenant
2. Property Description: Detailed description of the premises including address and any relevant floor plans
3. Commercial Terms: Proposed rent, lease term, deposit requirements
4. Timeline: Expected dates for lease completion and occupation
5. Due Diligence Requirements: Required searches, surveys, and investigations
6. Binding Nature Statement: Clear statement whether LOI is intended to be binding or non-binding
1. Break Clause Terms: Include when early termination options are being considered
2. Rent Review Provisions: Include for longer leases where rent reviews are anticipated
3. Fit-out Works: Include when tenant improvements are planned
4. Service Charge Estimates: Include for multi-tenanted buildings
1. Floor Plans: Preliminary plans showing the demised premises
2. Schedule of Condition: If referenced in main letter regarding property condition
3. Initial Fit-out Proposals: When specific tenant improvements are contemplated
Authors
Tenant
Property
Premises
Proposed Lease Term
Target Completion Date
Proposed Rent
Deposit
Permitted Use
Service Charge
Break Option
Rent Review Date
Rent Free Period
Security of Tenure
Planning Permission
Initial Works
Fit-out Period
Heads of Terms
Lease Commencement Date
Binding Terms
Non-binding Terms
Due Diligence Period
Exclusivity Period
Professional Advisers
Building Insurance
Common Parts
EPC Rating
Repairing Obligations
Alienation Rights
Alterations
Property Description
Proposed Lease Terms
Financial Terms
Due Diligence
Exclusivity
Confidentiality
Non-Binding Nature
Binding Provisions
Costs
Timeline
Conditions Precedent
Break Rights
Planning Requirements
Building Regulations
Environmental Compliance
Insurance Requirements
Permitted Use
Alterations and Improvements
Service Charge Provisions
Security of Tenure
Assignment and Subletting
Repair Obligations
Professional Fees
Termination Rights
Good Faith Negotiations
Governing Law
Access Rights
Utilities and Services
Rent Review
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