000			01815cab a2200277 4500
001			ABS45288
008			090401t1991 xxu||||| |||| 00| 0 eng d
035			_a(Sirsi) u52095
041			_aeng
245			_aPembroke St Georges Ltd v Cromwell Developments Ltd
260			_c1991
350			_a0
490			_aEstates Gazette _v(1991) 40 EG 1165-116(2)
520			_aChD 10 April 1991. The lease in question was made between the landlord X and the defendants, C, the lessees. C had carried out the development and entered into a sale and leaseback arrangement with X. The lease granted a term of 99 years from June 1965, the initial rent being £30,750, later reduced to £30,000. The lease provided for rent reviews at very long intervals, the first taking place after 24 years. The rent should be equal to the preceding period or 3/4 of the yearly rack-rental value at the last quarter day but before the end of the rent review period, whichever is the higher. X should have applied for an arbitration between 25 December 1988, the last quarter day and 24 June 1989 but did not. In November 1989 the plaintiffs, P, bought the reversion of the lease and applied to the RICS for an arbitrator. C argued that since the application was out of time no rent review could take place and the rent should be frozen at £30,000. P however claimed that time was not of the esse
650			_aMANAGEMENT-DISPUTE AVOIDANCE, MANAGEMENT AND RESOLUTION-DISPUTE MANAGEMENT AND RESOLUTION-ARBITRATION
650			_aLONG REVIEW PERIOD
650			_aRACK RENT
650			_aRENT REVIEWS
650			_aSALE AND LEASEBACK
650			_aSHOPPING CENTRES
650			_aTIME OF THE ESSENCE
690			_aARBITRATION-CASE LAW
690			_aLANDLORD AND TENANT-CASE LAW-RENT REVIEWS
942			_n0
948			_c04/03/1997
999			_c32318 _d32318