11 Sept 2015
LEWIS HOLDINGS LIMITED v STEEL & TUBE HOLDINGS LIMITED [2015] NZHC 2189
- Citation
- [2015] NZHC 2189
- Court
- High Court
Where no available market existed in June 2013 to re-let the property on a perpetually renewable ground lease or on a conventional lease extending to the 2030 renewal, damages are to be assessed by reference to the claimant's actual loss (the lost rental stream), subject to mitigation; claimant bore the onus to establish absence of market and quantify loss; the Court found on balance there was no market for a replacement ground lease or a term lease to 2030 and that redevelopment or sale were not reasonable mitigation obligations, and awarded damages for lost rent for the period until a reaso…