Cases - Prudential Assurance Co Ltd v Salisburys Handbags Ltd

Record details

Name

Prudential Assurance Co Ltd v Salisburys Handbags Ltd

Date

[1992]

Citation

1 EGLR 153

Legislation

Landlord and Tenant 1954

Keywords

Commercial properties – rent review – rent review to be to “the best rent” at which the premises might be expected to be let in the open market – whether the rent review clause was by implication a term on which premises might reasonably be expected to be let in order to obtain the best rent

Summary

The 7-yearly rent reviews under a 97-year lease were to 'the best rent' at which the premises might be expected to be let in the open market between willing parties subject to similar covenants, but it did not prescribe the term of the hypothetical lease. That term was by implication the term on which premises might reasonably be expected to be let in order to obtain the best rent.