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Iceland Foods v Castlebrook Holdings Ltd [2014] neatly illustratesthe balance which the court must strike when deciding on the terms of a renewal lease.
Iceland occupied the premises under a long lease. Upon expiry Iceland sought a renewal lease for a term of 5 years (Iceland wanted to maintain flexibility in, what were then, volatile market conditions). The landlord wanted a new lease with a 15 year term on the basis that this was standard length in the supermarket sector – and the fact that a shorter term would adversely affect the value of the landlord’s reversionary interest in the premises.
The Court decided that an appropriate lease term would be 10 years – a half-way house between what the tenant and landlord wanted.
Whilst this is certainly not new law, the case provides a reminder that whilst the Landlord and Tenant Act 1954 is, in part, designed to protect business tenants the court will not simply grant the lease term sought by the tenant; instead in exercising its discretion the court must weigh up the interests of both parties, ensuring that it protects the tenant’s business but remaining fair to the landlord.
A convenience retailer has opted to install cameras (the “Facewatch” system) at a limited number of its English stores to reduce crime and protect its staff.
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The Government appears set to announce plans on ‘living with Covid to restore freedom’. With the success of the retail and hospitality sector key to recovery, what protections will be on offer to tenants to deal with Covid-19 rent arrears?
Break rights have proved a fertile source of litigation over the last few years. More often than not, tenants have found themselves on the wrong end of the decisions. However, a Court of Appeal decision yesterday has bucked that trend.
One of the requirements for tenants to contract out of the security of tenure regime contained in the Landlord and Tenant Act 1954 is that they make a simple or statutory declaration before entering into the lease.
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