Lease Renewals: Following the pandemic
He focused on some recent cases which reflect the changing rental market, and the vital importance of establishing and relying on relevant comparables.
“As held in the JD Sports case, turnover rents are now very difficult to justify on renewal even where the old lease had a turnover rent.”
Primarily, as a result of the pandemic, there have been an increased number of unopposed business tenancy renewals under the Landlord and Tenant Act 1954 reaching trial due to the failure of the parties to reach agreement as to either the new rent payable on renewal and any interim rent payable up to the date the new lease is to commence.
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This article was first published in Property Law Journal 395 (March 2022) and is also available on lawjournals.co.uk.