Cases - Scottish Amicable Life Assurance Society v Middleton Potts and Co

Record details

Name

Scottish Amicable Life Assurance Society v Middleton Potts and Co

Date

[1995]

Citation

1 EGLR 97, CA

Legislation

Landlord and Tenant Act 1954

Keywords

Commercial property – rent review – market rent – construction of rent review clause

Summary

The market rent was defined as that which would be payable 'following the expiry of any rent free period or periods at concessionary rents which might be granted on a new letting of the demised premises in the open market at the relevant review date' and on a letting 'without a fine or premium'. The reference to a 'new letting' meant that this should be confined to a rent free period or other inducement to allow for a fitting out period but not any greater inducements intended to result in the payment of an increased rent. The assumption of no fine or premium operated to assume the absence of a reverse premium as well as a premium paid by the lessee.