Beegas Nominees Ltd v Decco Ltd
Beegas Nominees Ltd v Decco Ltd
- 2003
- Estates Gazette Law Reports [2003] 43 EG 138 138-141(4) .
[2003] EWHC 1891 31 July 2003. Application by the claimant landlord (B) under the Arbitration Act 1996 s45 for the determination of rent payable on a lease of a distribution warehouse at Stone Business park let to the defendant tenant (D). The lease was subject to upwards-only rent reviews. The new rent was to be the higher of the current rent or the Market Rental Value. The lease required the arbitrator to use evidence of rental values at two specified business parks as if those premises were situated upon Stone Business Park. B contended that the subclause required the arbitrator to ignore the geographical location of the comparable lettings and to substitute for it a location in the business park. D contended that the subclause did not require the arbitrator to make an adjustment. "Held" the declaration was made as requested by the landlord.
RENT REVIEWS
MARKET RENTAL VALUES
ASSUMPTIONS
VALUATIONS
PROPERTY-COMMERCIAL PROPERTY
ARBITRATION ACT 1996
BEEGAS NOMINEES LTD V DECCO LTD
COMPARABLE PROPERTIES
[2003] EWHC 1891 31 July 2003. Application by the claimant landlord (B) under the Arbitration Act 1996 s45 for the determination of rent payable on a lease of a distribution warehouse at Stone Business park let to the defendant tenant (D). The lease was subject to upwards-only rent reviews. The new rent was to be the higher of the current rent or the Market Rental Value. The lease required the arbitrator to use evidence of rental values at two specified business parks as if those premises were situated upon Stone Business Park. B contended that the subclause required the arbitrator to ignore the geographical location of the comparable lettings and to substitute for it a location in the business park. D contended that the subclause did not require the arbitrator to make an adjustment. "Held" the declaration was made as requested by the landlord.
RENT REVIEWS
MARKET RENTAL VALUES
ASSUMPTIONS
VALUATIONS
PROPERTY-COMMERCIAL PROPERTY
ARBITRATION ACT 1996
BEEGAS NOMINEES LTD V DECCO LTD
COMPARABLE PROPERTIES