000			01320cab a2200205 4500
001			ABS50690
008			090401t1994 xxu||||| |||| 00| 0 eng d
035			_a(Sirsi) u5980
041			_aeng
245			_aCo-operative Wholesale Society Ltd v National Westminster Bank plc
260			_c1994
350			_a0
490			_aEstates Gazette _v(1994) 14 EG 130-132(3)
520			_aChD 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.
650			_aRENT REVIEWS
650			_aRENT-FREE PERIODS
690			_aLANDLORD AND TENANT-CASE LAW-RENT REVIEWS
942			_n0
948			_c04/03/1997
999			_c3582 _d3582