Compensation
Compensation
- 1997
- Estates Gazette Case Summaries [1997] EGCS 99 (28/6/97) .
"St Martins Property Investments Ltd v CIB Properties Ltd and another" ChD 17 June 1997. Landlord (L) granted two underleases to tenants (T) with provision for rent to be reviewed at open market value if not agreed. A dispute arose between the parties over the review in June 1994. It was contended that hypothetical leases included rent review clauses and break clauses from underleases. Since the leases provided that the rent was to be determined on the assumption that the hypothetical tenant would not seek a rent-free period, or equivalent, the rent was to be a headline rent. L`s application dismissed.
HEADLINE RENT
HYPOTHETICAL TENANT
OPEN MARKET VALUE
RENT REVIEW
ST MARTINS PROPERTY INVESTMENTS LTD V CIB PROPERTIES LTD AND ANOTHER
UNDERLEASES
"St Martins Property Investments Ltd v CIB Properties Ltd and another" ChD 17 June 1997. Landlord (L) granted two underleases to tenants (T) with provision for rent to be reviewed at open market value if not agreed. A dispute arose between the parties over the review in June 1994. It was contended that hypothetical leases included rent review clauses and break clauses from underleases. Since the leases provided that the rent was to be determined on the assumption that the hypothetical tenant would not seek a rent-free period, or equivalent, the rent was to be a headline rent. L`s application dismissed.
HEADLINE RENT
HYPOTHETICAL TENANT
OPEN MARKET VALUE
RENT REVIEW
ST MARTINS PROPERTY INVESTMENTS LTD V CIB PROPERTIES LTD AND ANOTHER
UNDERLEASES