Millshaw Property Co Ltd v Preston BC
Millshaw Property Co Ltd v Preston BC
- 1996
- Rent Review & Lease Renewal 16(1) Summer 1996 .
ChD 23 November 1995. P demised a plot of undeveloped land to M`s p predecessors. The lease required the tenant to carry out development on the demised land. Rent review referred to an arbitrator following a failure to agree on the revised rent. Review rent was to be determined on the basis of a hypothetical letting of the premises on specified terms and `for a term of years not exceeding the residue of the term at the date of the certificate`. M sought a declaration that the hypothetical lease should be the residue of the term remaining at the review date. P argued for a shorter period. "Held" the words `not exceeding` in the review clause meant `up to` and were words of limitation. Decision for landlord.
CONSTRUCTION OF CLAUSE
HYPOTHETICAL LEASE
LEASES
MILLSHAW PROPERTY CO LTD V PRESTON BC
RENT REVIEW CLAUSE
RENT REVIEWS
ChD 23 November 1995. P demised a plot of undeveloped land to M`s p predecessors. The lease required the tenant to carry out development on the demised land. Rent review referred to an arbitrator following a failure to agree on the revised rent. Review rent was to be determined on the basis of a hypothetical letting of the premises on specified terms and `for a term of years not exceeding the residue of the term at the date of the certificate`. M sought a declaration that the hypothetical lease should be the residue of the term remaining at the review date. P argued for a shorter period. "Held" the words `not exceeding` in the review clause meant `up to` and were words of limitation. Decision for landlord.
CONSTRUCTION OF CLAUSE
HYPOTHETICAL LEASE
LEASES
MILLSHAW PROPERTY CO LTD V PRESTON BC
RENT REVIEW CLAUSE
RENT REVIEWS