The Supreme Court has handed down judgment in the seminal M&S v. BNP Paribas case.
Upholding the decision of the Court of Appeal, their Lordships held that there was no implied term in the M&S lease whereby rent was to be apportioned. Therefore, M&S was liable to pay a whole quarter's rent, despite the fact that the break date fell not long after a quarter day.
The key message from the case is to ensure that, if apportionment is intended, there is an express provision in the lease to that effect. The court will not otherwise look to help a tenant out, even in circumstances where a substantial break premium has been paid.
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