A tenant holds a 10-year commercial lease of retail premises which expires on 31 December 2024. The lease was granted in January 2015 at an annual rent of £30,000. The lease contains no break clause. On 20 December 2024, the tenant informs the landlord that they will not be renewing the lease. On 31 December 2024, the tenant vacates the premises, removes all stock and fittings, and returns the keys to the landlord's managing agent. The landlord accepts the keys and confirms receipt in writing. The landlord does not accept any rent payment beyond 31 December. On 15 January 2025, the landlord begins marketing the property for a new let.
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