High Court decides tenant entitled to rent repayment following break
In a recent ruling, the High Court has, for the first time, implied a term into a lease entitling the tenant to repayment of rent and other sums paid before the break date that related to the period after the break date.
In Marks & Spencer Plc v BNP Paribas Securities Services Trust Company (Jersey) Limited  EWHC 1279, the latest of a long line of recent cases on exercise of break rights, the court has considered whether, following successful exercise of a break, the tenant is entitled to a refund of the rent paid for the period after the break date.
Normally, in order to exercise a break, a tenant has to pay the full quarter’s rent that falls due prior to the break date, even if the break date occurs part way through that quarter. This is on the basis that the break may not be successfully exercised and therefore it is the full quarter’s rent that is owed.
If you are registered and logged in to the site, click on the link below to read the rest of the Allen & Overy briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from The Lawyer
Analysis from The Lawyer
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all
At the time of its launch Accutrainee was described as a revolutionary change to the training model. Has it proved to be so? Not really.