Seeking a new lease of life
Pollard, A
Seeking a new lease of life - 2002 - Property Week 43(66) 15 November 2002, 40(1) .
Looks at "Homebase Ltd v Allied Dunbar Assurance plc" where a dispute has arisen regarding subletting. Homebase wishes to take their case to tthe House of Lords, concerning Allied Dunbar's obligations on subletting and Homebase's attempt to sublet on terms which appear to satisfy the conditions of the subletting covernant by way of a side-agreement or collateral deed. Under the new "Code of practice for commercial leases", an alternative form of lease which may be priced on a risk-adjustment basis, may be offered. Concludes that landlords must carefully consider refusals to sublet as tenants who lose opportunities to dispose of their interest may be more ready to seek damages.
HOMEBASE LTD AND ANOTHER V ALLIED DUNBAR ASSURANCE PLC
SUBLETTING
LANDLORD AND TENANT ACT 1988
COMMERCIAL LEASES
COLLATERAL DEEDS
SIDE AGREEMENTS
Seeking a new lease of life - 2002 - Property Week 43(66) 15 November 2002, 40(1) .
Looks at "Homebase Ltd v Allied Dunbar Assurance plc" where a dispute has arisen regarding subletting. Homebase wishes to take their case to tthe House of Lords, concerning Allied Dunbar's obligations on subletting and Homebase's attempt to sublet on terms which appear to satisfy the conditions of the subletting covernant by way of a side-agreement or collateral deed. Under the new "Code of practice for commercial leases", an alternative form of lease which may be priced on a risk-adjustment basis, may be offered. Concludes that landlords must carefully consider refusals to sublet as tenants who lose opportunities to dispose of their interest may be more ready to seek damages.
HOMEBASE LTD AND ANOTHER V ALLIED DUNBAR ASSURANCE PLC
SUBLETTING
LANDLORD AND TENANT ACT 1988
COMMERCIAL LEASES
COLLATERAL DEEDS
SIDE AGREEMENTS