Addin v SoS Environment
Addin v SoS Environment
- 1997
- Estates Gazette [1997] 14 EG 132-134(3) .
ChD 27 November 1996. Commercial premises subject to seven year rent reviews. Reddendum provided that for each rent review period, rent should be higher than initial rent of £148,000, or a sum assessed as the current open market rent. Landlord contended these provisions gave the landlords an option to serve a trigger notice. "Held" parties contracted to pay the higher sum of £148,000 and the current market rent. The rent paid in the previous review period continues to be payable but if a review is triggered then it reverts to the formula in the reddendum.
ADDIN V SOS ENVIRONMENT
OPEN MARKET RENT
RENT REVIEWS
TRIGGER NOTICE
ChD 27 November 1996. Commercial premises subject to seven year rent reviews. Reddendum provided that for each rent review period, rent should be higher than initial rent of £148,000, or a sum assessed as the current open market rent. Landlord contended these provisions gave the landlords an option to serve a trigger notice. "Held" parties contracted to pay the higher sum of £148,000 and the current market rent. The rent paid in the previous review period continues to be payable but if a review is triggered then it reverts to the formula in the reddendum.
ADDIN V SOS ENVIRONMENT
OPEN MARKET RENT
RENT REVIEWS
TRIGGER NOTICE