This document is a precedent investment sale contract - i.e. a contract for the sale of land subject to leases.
The agreement incorporates the Standard Commercial Property Conditions (2nd Edition). It contains clauses designed to deal with matters arising in relation to the Exisiting Leases subject to which the sale is made. For example, it includes provisions dealing with service charge hand-over, maintenance contracts, arrears, apportionment of rent etc.
For VAT, the agreement makes use of optional Condition A2 of the SCPCs to govern the VAT TOGC status of the sale. For those who prefer a more traditional (albeit up-to-date) long-form TOGC clause, an optional version is available below. This can easily be inserted as clause 17 of the agreement.
The agreement can be used either on the sale of registered or unregistered freehold or leasehold land.
Before using this precedent document, it is advisable to read the drafting notes accompanying it. If you have any queries or comments about this document or the drafting notes, use the contact tab at the top of the page.