Overview

The January property alert from UK law firm Wragge & Co updates you the latest property and planning law issues, including the implications of K/S Victoria Street v House of Fraser (Stores Management) Ltd.

The case considered whether a parent company guarantor to a lease can stand as guarantor again if the lease is assigned intra-group. Shortly before Christmas the parties returned to court on a different point. This time they sought a declaration as to the meaning of the alienation covenant in the lease.

The briefing also looks at restrictive covenants and how they can be discharged by the death of the original vendor.

Restrictive covenants are often imposed in a conveyance of part of a larger piece of land. Covenants which prohibit certain action, such as a change of use, or alterations to a building, may be qualified by reference to the consent of the vendor being obtained. Such clauses can often give rise to difficulties of interpretation. Whose consent is needed? Is it that of the original vendor?

To continue reading click ‘view briefing’.