Real Estate Legal Update — May 2014: a trap for the unwary tenant; and an even bigger trap for the unwary developer or investor
Unless the lease makes express provision to the contrary, a tenant will not be able to recover from its landlord any prepaid rent or other sums that relate to the period after a break date.
Marks & Spencer had exercised its right to break under four leases in West London from its landlord, BNP Paribas.
Despite there being no express provisions in the leases, Marks & Spencer claimed for recovery of £1.1m of prepaid rent and other charges relating to the period after the break date…
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