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The High Court upheld the validity of a tenant's exercise of a break clause, despite the tenant being in nominal arrears at the break date, due to the landlord's failure to provide a reconciliation statement as agreed. The court found that the landlord's actions, including late and unclear communication regarding the property's strip-out requirements and refusal to provide necessary financial information, were designed to impede the tenant's ability to comply with the lease's conditions and effectively exercise the break option. The court also determined that the landlord's claim for damages related to the tenant's failure to strip out the property was valid, awarding the landlord €170,454.00, less any overpayment credit due to the tenant.
Tenant, Landlord, break clause, reconciliation statement, arrears, strip-out requirements, vacant possession, lease variation, estoppel, prevention principle, damages, High Court, exercise of break option, forfeiture notice, service charges, VAT treatment, dilapidations, implied duty, commercial lease, property handover.
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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