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The Commercial Lease Letter of Intent is a crucial preliminary document in New Zealand's commercial property landscape, typically used before entering into formal lease negotiations. This document serves as a tool to outline the basic terms and understanding between a potential landlord and tenant, demonstrating serious intent while maintaining flexibility for final negotiations. While primarily non-binding, except for specific provisions like confidentiality and exclusivity periods, it helps parties establish clear expectations and a framework for moving forward. The document is particularly relevant in New Zealand's commercial property market, where it helps streamline the leasing process and provides a structured approach to negotiations, taking into account local property laws and commercial practices. The Letter of Intent typically precedes the more detailed and binding commercial lease agreement, serving as a roadmap for legal representatives to draft the final lease document.

1. Date and Parties: Opening of letter identifying sender and recipient, including full legal names and addresses

2. Property Identification: Clear description of the commercial property, including full address and any relevant legal descriptions

3. Proposed Commercial Terms: Key lease terms including proposed rent, lease duration, and commencement date

4. Permitted Use: Intended use of the premises and any specific requirements or restrictions

5. Timeline: Proposed timeline for negotiations, due diligence, and lease execution

6. Non-Binding Nature: Clear statement that the LOI is non-binding except for specific provisions

7. Confidentiality: Statement regarding confidentiality of negotiations and information exchanged

8. Exclusivity Period: Period during which the landlord agrees not to negotiate with other parties

9. Next Steps: Process for moving forward, including due diligence requirements and lease negotiation

10. Signature Blocks: Space for both parties to acknowledge and sign the letter