On Melbourne Cup day I made an unsuccessful bet each way on a
horse - for a place and a win.
It occurred to me afterwards that the more I look at
'permitted use' descriptions (ie. how the tenant will use
the premises during the term of the lease), the more I feel that
you can't have a bet each way.
In the more than 20 years that I have been in practice, it has
often been argued by both landlord and tenant alike that you should
drill down in your permitted use description, making it as specific
as possible. Landlords like specific permitted use descriptions so
they can then have flexibility to grant leases to other tenants
where they might have non-competing or exclusivity provisions in
their leases. Similarly, tenants like to have specific permitted
use description so there is no doubt as to what they can or cannot
do in their premises.
