Hemingway Realty Ltd v Master Wardens and Commonalty of Freemen of the Art or Mystery of the City of London (commonly called the Clothworkers' Company)
Hemingway Realty Ltd v Master Wardens and Commonalty of Freemen of the Art or Mystery of the City of London (commonly called the Clothworkers' Company)
- 2005
- Estates Gazette [2005] 19 EG 176-183(8) .
[2005] EWHC 299 (Ch), 8 March 2005. Considered the construction of a rent review clause in a lease governing the commercial tenancy. The rent review clause incorporated an open review and the defendants (C) claimed the sole right to initiate a rent review. H contended that if no rent review was initiated, then the definition of the appropriate percentage had the effect of reducing the passing rent to 60% of the open market rack rental value of the premises on 24 June 1982. "Held": the claim was dismissed. There was no presumption that a rent review clause, even one incorporating an open review, ought to be exercisable by both parties to the lease.
HEMINGWAY REALITY LTD V MASTER WARDENS AND COMMONALTY OF FREEMEN AOF THE ART OR MYSTERY OF THE CITY OF LONDON
[2005] EWHC 299 (Ch), 8 March 2005. Considered the construction of a rent review clause in a lease governing the commercial tenancy. The rent review clause incorporated an open review and the defendants (C) claimed the sole right to initiate a rent review. H contended that if no rent review was initiated, then the definition of the appropriate percentage had the effect of reducing the passing rent to 60% of the open market rack rental value of the premises on 24 June 1982. "Held": the claim was dismissed. There was no presumption that a rent review clause, even one incorporating an open review, ought to be exercisable by both parties to the lease.
HEMINGWAY REALITY LTD V MASTER WARDENS AND COMMONALTY OF FREEMEN AOF THE ART OR MYSTERY OF THE CITY OF LONDON