Commercial Lease Purchase Agreement Template for New Zealand

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Key Requirements PROMPT example:

Commercial Lease Purchase Agreement

"I need a Commercial Lease Purchase Agreement for a retail space in Auckland CBD, with a 3-year initial lease term starting March 1, 2025, and an option to purchase the property at market value after the first 18 months of tenancy."

Document background
The Commercial Lease Purchase Agreement is a specialized legal instrument used in New Zealand when parties wish to combine a commercial lease with a future property purchase arrangement. This type of agreement is particularly useful for businesses that want to secure a property for their operations while building up equity or arranging financing for an eventual purchase. It provides detailed terms for both the lease period and the purchase transaction, including rent calculations, maintenance responsibilities, purchase price determination, and conditions for exercising the purchase option. The document must comply with New Zealand property law and commercial law requirements, making it suitable for various commercial property transactions where a staged approach to property ownership is desired. This agreement type offers flexibility while providing security for both landlord and tenant, making it particularly valuable in commercial real estate transactions where immediate purchase may not be feasible or desired.
Suggested Sections

1. Parties: Identification of all parties to the agreement, including full legal names and addresses

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

3. Definitions: Defined terms used throughout the agreement

4. Property Description: Detailed description of the commercial property, including legal description and physical address

5. Lease Terms: Core lease provisions including term, rent, operating expenses, and maintenance obligations

6. Purchase Terms: Purchase price, payment structure, and conditions for exercising purchase option

7. Conditions Precedent: Conditions that must be satisfied before the agreement becomes binding

8. Due Diligence: Requirements and timeframes for property investigation and verification

9. Settlement and Possession: Process and requirements for settlement and transfer of possession

10. Warranties and Representations: Statements of fact and promises made by both parties

11. Default and Remedies: Consequences of breach and available remedies

12. Insurance and Risk: Insurance requirements and risk allocation between parties

13. Assignment and Subletting: Rights and restrictions regarding transfer of lease or purchase rights

14. Notices: How formal communications between parties should be made

15. General Provisions: Standard contract clauses including governing law, entire agreement, and amendments

16. Execution: Signing provisions and attestation requirements

Optional Sections

1. GST Provisions: Detailed GST treatment - required if either party is GST registered

2. Guarantees: Personal or corporate guarantees - needed if additional security is required

3. Fit-out Provisions: Details of any agreed fit-out works and responsibilities - needed if premises require modification

4. Resource Consent: Special conditions relating to resource consents - required if property use changes are planned

5. Seismic Performance: Specific provisions regarding building's seismic rating - important for earthquake-prone buildings

6. Environmental Matters: Environmental compliance and responsibilities - needed if environmental risks exist

7. Development Rights: Future development provisions - included if property has development potential

8. Body Corporate: Body corporate provisions - required if property is part of a unit title development

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property information including title references, area, and included fixtures

2. Schedule 2 - Rent and Outgoings: Detailed breakdown of rent, operating expenses, and payment terms

3. Schedule 3 - Maintenance Schedule: Detailed maintenance obligations of landlord and tenant

4. Schedule 4 - Purchase Price Calculation: Formula or method for determining final purchase price

5. Schedule 5 - Permitted Use: Detailed description of permitted uses of the property

6. Appendix A - Property Plans: Floor plans, site plans, and area calculations

7. Appendix B - Condition Report: Detailed property condition assessment

8. Appendix C - Building Report: Technical building information including WOF and compliance schedules

9. Appendix D - Title Documents: Copy of title and relevant registered documents

10. Appendix E - Insurance Certificates: Copies of required insurance certificates

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

Retail

Hospitality

Manufacturing

Warehousing and Logistics

Professional Services

Healthcare

Education

Technology

Industrial

Agriculture

Entertainment and Recreation

Relevant Teams

Legal

Finance

Real Estate

Operations

Facilities Management

Risk and Compliance

Property Management

Business Development

Asset Management

Commercial Operations

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Commercial Property Manager

Real Estate Director

Legal Counsel

Property Investment Manager

Facilities Manager

Business Development Manager

Operations Director

Risk Manager

Finance Director

Commercial Lease Administrator

Asset Manager

Property Portfolio Manager

Compliance Officer

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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