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After a 3 month consultation the Office of National Statistics (ONS) has chosen not to bring the RPI more in line with the slower rising CPI. However, the ONS will be introducing a new, additional index of inflation – RPIJ.
The RPIJ will use a different formula than that used to calculate RPI and the ONS believe that this will be a much better measure of inflation.
So, away from the world of pension funds etc, what does this mean for tenants? Well, for existing lease arrangements, tenants will be stuck with the contractual RPI and will have to continue paying rents that are calculated using a formula which is not consistent with inflation. However, once the RPIJ starts to be published in March 2013, we’ll certainly be asking our retailer clients tenants whether they’d like to consider a move to the new RPIJ.
The Court of Appeal has ruled that the wording of a service charge clause precluded a tenant from challenging the sums claimed by a landlord.
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Break rights have proved a fertile source of litigation over the last few years. Courts have consistently required strict compliance with the terms of those rights.
Judgement has been handed down for the seminal case of Cardtronics UK Ltd and others (Respondents) v Sykes and others (Valuation Officers) (Appellants) [2020] UKSC 21.
Following an MP debate on 5 November 2019, the government is due to release long-awaited guidance as to how it intends to protect workers in the retail industry against violence, harassment and abuse.
Partner and Head of Real Estate
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