Standard document contract for the sale of a portfolio of commercial properties with vacant possession.

The standard document is for use as a contract for the sale and purchase of two or more commercial properties where those properties are being sold with vacant possession on completion.

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

The standard document assumes that the parties will have ascertained the Value Added Tax (VAT) position of each property before exchange and will know whether the sale of each property is subject to VAT (that is, taxable) or exempt from VAT.

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