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Bissett v Marwin Securities Ltd

Language: English Series: Estates Gazette ; 281(6316) 10 January 1987, 75-76(2)Publication details: 1987Subject(s): Summary: ChD 2 October 1986. Concerned construction of a rent review clause. An originating summons was made by the lessee. The lease stipulated the premises be used only for the operation of amusement machines at a rent of £12,500 pa subject to an upwards-only rent review at regular intervals. At the first review, the lessor`s surveyors served notice, stating the new rent was to be £18,300 determined by adding an additional rent calculated at 10% per annum compound on the initial rent of £12,500. The lessee objected on the basis that the 10% compound formula operated only if there had been a "preceding rent review". The lessors replied that if the compound formula was inappropriate, they would rely on the retail price index or similar to produce a sum of £15,635. The court had to determine the rent for the first review period. The lessors argued that the 10% formula should be read as if, after the words "the immediately preceding rent review", there were added the words "or the commencement
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Law report London Journal article ABS37315 (Browse shelf(Opens below)) 1 Available 3673-1001

ChD 2 October 1986. Concerned construction of a rent review clause. An originating summons was made by the lessee. The lease stipulated the premises be used only for the operation of amusement machines at a rent of £12,500 pa subject to an upwards-only rent review at regular intervals. At the first review, the lessor`s surveyors served notice, stating the new rent was to be £18,300 determined by adding an additional rent calculated at 10% per annum compound on the initial rent of £12,500. The lessee objected on the basis that the 10% compound formula operated only if there had been a "preceding rent review". The lessors replied that if the compound formula was inappropriate, they would rely on the retail price index or similar to produce a sum of £15,635. The court had to determine the rent for the first review period. The lessors argued that the 10% formula should be read as if, after the words "the immediately preceding rent review", there were added the words "or the commencement