Retail shop leases commonly provide for occasions where the rent
would be changed to the current market rent for the retail shop
premises. Where the parties to the lease do not reach agreement on
what the actual amount of that current market rent is to be, they
can jointly appoint a specialist retail valuer to make that
determination. If they cannot even agree on that appointment, then
they can apply to the Administrative Decisions Tribunal
(the"Tribunal') to make the appointment of a specialist
retail valuer.
When making the current market rent determination for retail
shop premises, the specialist retail valuer must pay careful and
close attention to the criteria for current market rent that are
set out in each part, including each sub-paragraph of section 19
(1) (a), of the Retail Leases Act 1994. If they fail to do so, a
dissatisfied party to the lease can apply to the Tribunal for an
order stating that the current market rent determination is
'non-complying' and
