Lease Option Agreement Template for Hong Kong

1. Due Diligence: Terms allowing the option holder to conduct property investigations, used when the property requires significant investigation

2. Planning Permission: Conditions related to obtaining necessary planning permissions, included when the intended use requires planning changes

3. Existing Tenancies: Details of any existing tenancies affecting the property, included when property is not vacant

4. Property Management: Terms relating to building management and service charges, included for properties in managed buildings

5. Environmental Matters: Environmental warranties and indemnities, included for industrial or potentially contaminated properties

6. Break Clause: Terms allowing early termination of the option, included when parties want flexibility

7. Assignment and Subletting: Terms governing whether the option can be transferred, included when transfer rights are important to either party

1. Property Description: Detailed description of the property including plans and boundaries

2. Form of Lease: The full form of lease to be entered into upon exercise of the option

3. Condition Schedule: Detailed description of the property's condition and any existing defects

4. Payment Schedule: Breakdown of all payments including option fee, rent, and other charges

5. Permitted Use: Detailed description of allowed uses for the property

6. Building Rules: Any applicable building rules and regulations

7. Option Exercise Notice: Pro-forma notice for exercising the option