Co-operative Wholesale Society Ltd v National Westminster Bank plc
Language: English Series: Estates Gazette ; (1994) 14 EG 130-132(3)Publication details: 1994Subject(s): Summary: ChD 24 November 1993. A 25-year lease contained provisions to review the rent to the rental value in the open market with vacant possession after expiry of any rent-free period or concessionary rent or other inducement. The arbitrator in his award found that the effect of the rent review clause was that the open market rental value should be the `headline rent`. C appealed against the interim award of the arbitrator, contending that it is necessary to discount the headline rent to arrive at the true market value of the premises let without a rent-free period. Held, application refused. It must be assumed that at the review date any rent-free period has expired. That is the literal meaning of the clause and how the arbitrator construed it with the benefit of legal advice.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Law report | London Journal article | ABS50690 (Browse shelf(Opens below)) | 1 | Available | 5980-1001 |
ChD 24 November 1993. A 25-year lease contained provisions to review the rent to the rental value in the open market with vacant possession after expiry of any rent-free period or concessionary rent or other inducement. The arbitrator in his award found that the effect of the rent review clause was that the open market rental value should be the `headline rent`. C appealed against the interim award of the arbitrator, contending that it is necessary to discount the headline rent to arrive at the true market value of the premises let without a rent-free period. Held, application refused. It must be assumed that at the review date any rent-free period has expired. That is the literal meaning of the clause and how the arbitrator construed it with the benefit of legal advice.