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BREAK CLAUSES IN OFFICE MARKET

BREAK CLAUSES IN OFFICE MARKET

Published: 20/08/2014

The recent case Marks and Spencer v BNP Paribas and Another [2014] is a blow to commercial tenants with break clauses in their lease contracts.
In this case, the tenant exercised the break clause and requested for a refund of rent paid in advance for the period after the break date until the next payment date.
The High Court ruled in favour of the tenant, but The Court of Appeal overturned the decision and stated that tenants must specifically include a provision in the break clause for the repayment of any rents paid in advance for the period after the break date when it is in between two payment dates.