Business lease – option to purchase freehold – construction

Multi-Link Leisure Developments Limited v North Lanarkshire Council [2010] UKSC 47 (17 November 2010)

This is a Supreme Court decision and although it concerns the construction of a lease of premises in Scotland the outcome will be of interest to all those in the commercial property sector. This issue is the proper construction of an option to purchase the land. The tenant contended for a price of £500,000 whereas the landlord contended for a price of £5.3m.