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High Court rules in favor of a landlord, determining that the tenant is obliged to pay the higher of the rent assessed under the Fourth Schedule or the rent payable during the preceding period increased by the Consumer Price Index factor, as per clause 3.1 of the Lease, funding that the tenant's failure to engage in the 2014 rent review process resulted in an issue estoppel, preventing the tenant from contesting the rent increase to €52,200 plus VAT per annum for the period up to 27 July 2019; and additionally, the landlord is entitled to the reviewed rent of €38,500 plus VAT per annum from 27 July 2019 onwards, as determined by an independent expert.
Landlord - Tenant - Lease - Rent Review - Consumer Price Index (CPI) - Fourth Schedule - Issue Estoppel - Open Market Rent - Service Charges - Interest Provisions - Penalty Clause - Legal Costs - Summary Judgment - Plenary Hearing - High Court - Independent Expert - Quarterly Gale Days - VAT - Execution Order - Forfeiture Notice - Injunction - Commercial Rate - Contractual Obligation.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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