Standard document contract for the sale of a portfolio of commercial properties subject to lease.

The standard document is for use as a contract for the sale and purchase of two or more commercial properties where each property is being sold subject to one or more commercial leases.

Each property in the portfolio may be either freehold or leasehold and either registered or unregistered land.

The standard document assumes that the sale of the properties will not constitute a taxable supply for the purposes of Value Added Tax (VAT) because the transaction will be treated as a transfer of a going concern (TOGC).

The standard document incorporates the Standard Commercial Property Conditions (Third Edition – 2018 Revision) (SCPC).