James and another v British Crafts Centre
James and another v British Crafts Centre
- 1987
- Estates Gazette 282(6337) 6 June 1987, 1251-1255(3) .
CA 16 March 1987. Appeal by landlords, from part of the ChD decision (See Abstract 36105), in regard to the construction of a rent review clause in a lease. Difficulties had arisen in determining exactly the terms of the hypothetical lease to be assumed in arriving at the "commercial yearly rent". After providing that such rent should be the open market rent of a lease for a term equal to the residue of the actual term of the current lease, the review clause stated that the hypothetical lease was to be "in the same terms in all other respects as these presents". The construction problems were due to the fact that both the user covenant and the restriction of assignment covenant contained a specific reference to the lessee by name. The user covenant permitted use of part of the premises for storage, sale and display of craftsmen`s work while the lessee was the British Crafts Centre. The assignment covenant permitted the sharing of occupation with a holding or subsidiary company, "but
CA 16 March 1987. Appeal by landlords, from part of the ChD decision (See Abstract 36105), in regard to the construction of a rent review clause in a lease. Difficulties had arisen in determining exactly the terms of the hypothetical lease to be assumed in arriving at the "commercial yearly rent". After providing that such rent should be the open market rent of a lease for a term equal to the residue of the actual term of the current lease, the review clause stated that the hypothetical lease was to be "in the same terms in all other respects as these presents". The construction problems were due to the fact that both the user covenant and the restriction of assignment covenant contained a specific reference to the lessee by name. The user covenant permitted use of part of the premises for storage, sale and display of craftsmen`s work while the lessee was the British Crafts Centre. The assignment covenant permitted the sharing of occupation with a holding or subsidiary company, "but