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Do you remember the Marks and Spencer Plc v BNP Paribas case last year? M&S had a break right which was conditional on there being no arrears at the break date (as well as paying a financial penalty). Having paid the full quarter’s rents to exercise the break right, the judge implied a term that the landlord must reimburse the tenant for all advance payments (about £1.1m in total).
Perhaps not surprisingly, this decision has today been overturned by the Court of Appeal. No such term is to be implied and the loss must lie where it falls. It is therefore crucial when acting for a tenant with a break clause to provide expressly in the heads of terms and lease that, following the exercise of the break clause, the landlord must reimburse the tenant for all overpayments. Draft with care!
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.
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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.
Some commentators had anticipated that persisting retail sector challenges might disrupt more than the make-up of the high street or commercial property negotiations between landlords and tenants.
Mandatory registration under the Drone Safe Drone and Model Aircraft Registration and Education Service starts at 00.00 on 30 November 2019.
Partner and Head of Real Estate
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