Commercial Property Purchase Contract Template for Ireland

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Key Requirements PROMPT example:

Commercial Property Purchase Contract

"I need a Commercial Property Purchase Contract for acquiring a multi-tenant office building in Dublin City Centre, with completion planned for March 2025; the agreement must include specific provisions for existing tenancies and service charge arrangements."

Document background
The Commercial Property Purchase Contract is a fundamental legal document used in Irish property transactions for the acquisition of commercial real estate. It serves as the primary agreement between a vendor and purchaser, incorporating all essential terms and conditions required under Irish law. This document is particularly important as it must comply with strict requirements set forth in Irish property legislation, including the Land and Conveyancing Law Reform Act 2009 and related regulations. The contract covers crucial elements such as property description, title verification, purchase price, payment terms, conditions precedent, warranties, and completion mechanics. It's designed to protect both parties' interests while ensuring compliance with Irish commercial property laws, planning regulations, and tax requirements. The document is typically prepared following preliminary negotiations and heads of terms, and requires input from various professional advisors to ensure all legal, financial, and technical aspects are properly addressed.
Suggested Sections

1. Parties: Identification of the Vendor and Purchaser, including full legal names, registration numbers for companies, and addresses

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

3. Definitions: Detailed definitions of terms used throughout the agreement

4. Sale and Purchase: Core agreement to sell and purchase the property, including the purchase price

5. Property Description: Detailed description of the property, including boundaries, fixtures, and fittings

6. Title: Vendor's confirmation of good and marketable title, including any encumbrances or restrictions

7. Purchase Price and Payment Terms: Detailed breakdown of the purchase price, deposit requirements, and payment schedule

8. Conditions Precedent: Conditions that must be satisfied before completion can occur

9. Completion: Requirements and mechanics for completing the transaction

10. Vendor's Warranties: Standard warranties regarding the property, title, and vendor's capacity

11. Property Condition: Status of the property and any known defects or issues

12. Planning and Compliance: Confirmation of planning permissions and compliance with regulations

13. VAT and Tax Provisions: Treatment of VAT and other tax matters

14. Notices: Process for serving notices between parties

15. Governing Law and Jurisdiction: Confirmation of Irish law governance and jurisdiction

Optional Sections

1. Tenant Provisions: Required if the property is sold subject to existing tenancies

2. Environmental Provisions: Required if there are specific environmental concerns or requirements

3. Development Rights: Required if the property has ongoing or potential development opportunities

4. Service Charge Provisions: Required for properties in multi-unit developments

5. Overage Provisions: Required if there are future value-sharing arrangements

6. Break Clause: Required if either party needs the ability to terminate before completion under specific circumstances

7. Management Company Provisions: Required if the property is part of a managed development

Suggested Schedules

1. Schedule 1 - Property Description: Detailed legal description of the property including maps and plans

2. Schedule 2 - Title Documents: List of all title documents and related correspondence

3. Schedule 3 - Fixtures and Fittings: Inventory of included and excluded items

4. Schedule 4 - Existing Tenancies: Details of any existing leases or tenancy agreements

5. Schedule 5 - Planning Permissions: List of relevant planning permissions and certificates

6. Schedule 6 - Property Certificates: Building certificates, compliance certificates, and safety certificates

7. Appendix A - Property Plans: Maps, floor plans, and site plans

8. Appendix B - Environmental Reports: Environmental surveys and assessments

9. Appendix C - Building Survey: Technical survey reports and structural assessments

10. Appendix D - Service Agreements: Details of ongoing service contracts and utilities

Authors

Alex Denne

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

Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Commercial Property

Retail

Industrial

Office Space

Hospitality

Healthcare

Education

Manufacturing

Logistics

Technology

Financial Services

Professional Services

Entertainment

Warehousing

Relevant Teams

Legal

Real Estate

Finance

Operations

Facilities Management

Risk and Compliance

Property Management

Asset Management

Investment

Business Development

Treasury

Tax

Relevant Roles

Real Estate Director

Property Manager

Commercial Director

Chief Financial Officer

Legal Counsel

Property Lawyer

Facilities Manager

Asset Manager

Investment Manager

Development Director

Property Surveyor

Risk Manager

Compliance Officer

Operations Director

Finance Manager

Real Estate Agent

Property Consultant

Business Development Manager

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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