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ARTICLE · 14 FEBRUARY 2024

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Real Estate - What's Another Year 2024

Arthur Cox
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As occupiers continue to reassess their space requirements, we expect a renewed focus on sub-letting of ‘grey space' in 2024.

IrelandReal Estate and Construction
Arthur Cox
Arthur Cox
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Our annual "What's Another Year?" bulletin is a snapshot of the key legal and regulatory developments which we can expect over the course of 2024, across a range of sectors and practice areas.

COMMERCIAL LANDLORD AND TENANT

Sub-Letting of Grey Space

As occupiers continue to reassess their space requirements, we expect a renewed focus on sub-letting of 'grey space' in 2024. This will bring the provisions of Section 78 of the Landlord and Tenant (Amendment) Act 1980 back into focus. There has been very little judicial commentary on this section, which provides that where a head-lease is terminated before its normal expiration, any sub-lease will remain in existence with the landlord becoming the landlord of the tenant under the sub-lease and the sub-tenant being required to pay the higher of the sub-lease rent or such portion of the rent reserved by the terminated head-lease as is fairly attributable to the premises.

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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