Indexed rent review—non-annual basis with optional cap and collar
Indexed rent review—non-annual basis with optional cap and collar

The following Property guidance note provides comprehensive and up to date legal information covering:

  • Indexed rent review—non-annual basis with optional cap and collar

  1. 1

    Definitions

  2. Base Figure

    1. is:

      1. (a)

        on the first Notional Review Date [[insert the Index figure for the [month] before completion of the lease] OR t] the Index for the month before [the term commencement date OR completion of this lease];

      2. (b)

        on each succeeding Notional Review Date, the Index for the month before the preceding Notional Review Date;

    Current Figure

    1. the Index figure for the month preceding the relevant Notional Review Date;

    Independent Surveyor

    1. an independent chartered surveyor with at least [10] years’ experience of valuing premises comparable to the Property;

    Index

    1. the ‘all items’ [Retail Prices OR Consumer Prices] Index published by the Office for National Statistics or any successor or replacement agency or government department;

    [Maximum Rent

    1. [insert figure]% of the Notional Rent payable immediately before the relevant Notional Review Date;]

    [Minimum Rent

    1. [insert figure]% of the Notional Rent payable immediately before the relevant Notional Review Date;]

    Notional Rent

    1. for the period up until the first Notional Review Date, [insert original amount of the Rent] and thereafter the sum calculated in accordance with clause 2.1;

    Notional Review Date

    1. each anniversary of [insert the