When a court sets a new rent on an application for a new lease under the 1954 Act, the valuation date is, in practice, the date upon which it sets the new rent, taking effect from the date when the new lease is to be executed, although striclty according to the words of the section, it was the date upon which the new lease term would commence. A court might therefore take into account any properly forseeable changes which might take place between the date of the hearing and the commencement date for the new term.
The defendant had here argued that the proposals set out in the pleadings constituted an offer capable of acceptance by the defendant tenant.
Citations:
(1977) 246 EG 651, (1977) 121 SJ 711, [1978] 1 EGLR 44
Statutes:
Landlord and Tenant Act 1954 34
Jurisdiction:
England and Wales
Landlord and Tenant
Updated: 16 May 2022; Ref: scu.604814