Commercial Lease Letter of Intent template for Google Docs

The first pages of the Commercial Lease Letter of Intent template

Every page (7)

Overview

Agreeing a lease by email leaves both sides unsure what has been settled and what has not. This letter of intent collects the premises, rent, term, fit-out and conditions in one document, and separates the few clauses that bind from everything that stays subject to contract.

The sample follows Sandpiper Manufacturing as tenant and a fictional landlord, with a 1,200 m2 unit, rent of £165 per m2, a 10 year term with a break at year 5 and 90 days of exclusivity. Replace the parties, figures and dates, then have a solicitor check which clauses bind and which law applies.

Useful for

A tenant setting out its offer for an industrial unit before the landlord instructs solicitors
A landlord confirming rent, rent-free period and works with a shortlisted occupier
A property adviser comparing two or three units and recording the agreed terms of the preferred one

What's included

Cover page naming the tenant, the landlord, the unit and the date of the letter
Premises clauses covering the unit, access, use and who does what
Rent page with a local rent chart, an occupancy cost donut and a key figures table
Term clauses with start date, a break at year 5 and the conditions for using it
Fit-out comparison of four units, a positioning map and the case for the preferred unit
Conditions article on due diligence, binding clauses, exclusivity, costs and law, plus a guide

How to use it

1
Click Make a copy in Google Docs, then confirm on the Google page. The copy is saved to your own Google Drive.
2
Replace the parties, unit, area, dates and rent figures with the facts of your own deal, and update the chart and table to match.
3
Edit the conditions page so it lists only the binding clauses you intend, with their durations and an expiry date for the letter.
4
Send the draft to a solicitor to confirm which clauses bind and which law applies before anyone signs.
5
Delete the Make it yours guide page, then share the letter with the other party.

What you need

Requirements

A Google account with access to Google Drive

Works with

Google Docs
Microsoft Word (download the .docx)

Questions

Is the letter of intent legally binding?

Mostly not. The sample says it is subject to contract and binds only exclusivity, confidentiality, costs and governing law. A solicitor should confirm this for your deal.

Is this legal advice?

No. It is a draft to adapt. Have a qualified solicitor review the wording, the binding clauses and the governing law before either party signs.

Are the organisation, people and figures real?

No. Sandpiper Manufacturing, the landlord, the people, the unit and every figure and email address in the sample are fictional and exist only to show a finished letter.

#letter-of-intent
#commercial-lease
#lease-negotiation
#heads-of-terms
#landlord
#tenant
#property
#google-docs

More Google Docs templates More business operations templates

Business Acquisition Letter of Intent
Docs + Word7 pages
Free
Letter of Intent
Docs + Word8 pages
Free
Acceptable Use Policy
Docs + Word7 pages
Free

Also in Business operations

All business operations templates

Get this template