Maraday Ltd v Sturt Properties Ltd
Maraday Ltd v Sturt Properties Ltd
- 1988
- Estates Gazette (8846) 19 November 1988, 99-100(2) .
ChD 8 July 1988 Originating summons taken out by Maraday (M) to determine validity of a notice served by Sturt Properties (S) activating a rent review clause in the lease of warehouse premises. Review clause provided that after an initial seven-year period at a stated rent, the remainder of the term should be divided into two periods of five and three years respectively. The first review period commenced in March 1987, due to expire in March 1992. Material part of clause provided that the open market in rental value was to be such a sum as should be specified in a notice in writing by the lessor "served at least six months before expiration of the period in question". The question was what was the "period in question". The remainder of the lease after March 1987 had been divided into two periods of five and three years and these were defined as the "review periods". S`s notice proposing to exercise their right to review the rent was given in January 1987. ChD held, that unless he was
BUSINESS TENANCIES
CONSTRUCTION OF CLAUSE
ChD 8 July 1988 Originating summons taken out by Maraday (M) to determine validity of a notice served by Sturt Properties (S) activating a rent review clause in the lease of warehouse premises. Review clause provided that after an initial seven-year period at a stated rent, the remainder of the term should be divided into two periods of five and three years respectively. The first review period commenced in March 1987, due to expire in March 1992. Material part of clause provided that the open market in rental value was to be such a sum as should be specified in a notice in writing by the lessor "served at least six months before expiration of the period in question". The question was what was the "period in question". The remainder of the lease after March 1987 had been divided into two periods of five and three years and these were defined as the "review periods". S`s notice proposing to exercise their right to review the rent was given in January 1987. ChD held, that unless he was
BUSINESS TENANCIES
CONSTRUCTION OF CLAUSE