Development agreement (agreement for lease - new development)

This document is a draft development agreement (agreement for lease) in relation to major new construction works. The works are to be carried out by the developer/landlord following the obtaining of the requisite planning and other consents.

The document is drafted on the assumption that the developer/landlord's lawyer will be responsible for the drafting. It is biased heavily in favour of the developer of the property, who is the owner of the property upon which the development is to be constructed. If the draftsperson acts for the tenant, the agreement will clearly require substantial amendment to shift the balance back in favour of the tenant.

The precedent assumes that the developer owns or will on practical completion of the development the property upon which the development is to be constructed. It assumes that the tenant is to take a lease of the whole or part of the development to be constructed in the form of a lease to be annexed to the agreement, and is conditional upon the developer obtaining planning permission for the development.

Drafting notes to accompany this document are attached.

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