Final say must be considered
Language: English Series: Property Week ; 74(51) 19 December 2008, 44(1)Publication details: 2008Subject(s): Summary: Discusses the case of Metropolitan Property Realizations Ltd v Atmore Investments Ltd [2008] EWCH 2925 (Ch) (see L146405). An arbitrator making a rent review determination in respect of a commercial lease had failed to take into account the notional tenant's profit in the calculation of a fair rent, so there had been a serious irregularity. The valuation method was rejected by the Court even though the landlord's surveyor had initially accepted it. Accordingly, the Court ordered that the review be resubmitted to the arbitrator who must reduce the rent award to allow for an appropriate profit margin for the tenant.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L146405 (Browse shelf(Opens below)) | 1 | Available | 146405-1001 |
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Discusses the case of Metropolitan Property Realizations Ltd v Atmore Investments Ltd [2008] EWCH 2925 (Ch) (see L146405). An arbitrator making a rent review determination in respect of a commercial lease had failed to take into account the notional tenant's profit in the calculation of a fair rent, so there had been a serious irregularity. The valuation method was rejected by the Court even though the landlord's surveyor had initially accepted it. Accordingly, the Court ordered that the review be resubmitted to the arbitrator who must reduce the rent award to allow for an appropriate profit margin for the tenant.