City Offices plc v Bryanston Insurance Co Ltd ; City Offices plc v Allianz Cornhill International Insurance Co Ltd
City Offices plc v Bryanston Insurance Co Ltd ; City Offices plc v Allianz Cornhill International Insurance Co Ltd
- 1993
- Estates Gazette (1993) 11 EG 129-131(3) .
ChD 27 November 1992. These are two cases heard together concerning the construction of a rent review clause in a lease and the effect of disregarding any notional rent free concession or fitting out period. The same building was concerned in both cases and there were similar clauses which provided that the current market rental value should be the best yearly rent which could reasonably be expected to be payable after the expiration of any rent free concession or fitting out period. The clause also included an assumption that the premises were suitable and available for immediate occupation. An arbitrator set an interim rent on the basis that a 12 month rent free period would have been given of which three months would be required for fitting out, nine months was equivilent to 15% and he deducted that percentage from the open market rent. The landlord appealed on the grounds that the rent to be determined was the current rack rental value after the expiry of any rent free period. Th
MANAGEMENT-DISPUTE AVOIDANCE, MANAGEMENT AND RESOLUTION-DISPUTE MANAGEMENT AND RESOLUTION-ARBITRATION
FITTING OUT PERIOD
RENT FREE PERIODS
RENT REVIEWS
ChD 27 November 1992. These are two cases heard together concerning the construction of a rent review clause in a lease and the effect of disregarding any notional rent free concession or fitting out period. The same building was concerned in both cases and there were similar clauses which provided that the current market rental value should be the best yearly rent which could reasonably be expected to be payable after the expiration of any rent free concession or fitting out period. The clause also included an assumption that the premises were suitable and available for immediate occupation. An arbitrator set an interim rent on the basis that a 12 month rent free period would have been given of which three months would be required for fitting out, nine months was equivilent to 15% and he deducted that percentage from the open market rent. The landlord appealed on the grounds that the rent to be determined was the current rack rental value after the expiry of any rent free period. Th
MANAGEMENT-DISPUTE AVOIDANCE, MANAGEMENT AND RESOLUTION-DISPUTE MANAGEMENT AND RESOLUTION-ARBITRATION
FITTING OUT PERIOD
RENT FREE PERIODS
RENT REVIEWS