VTOGC6150 - Land and property: Surrender of a lease

There is in principle no obstacle to the surrender of a lease being a TOGC, subject to all the normal conditions. This will apply, for instance, where a tenant subletting premises by way of business subsequently surrenders its interest in the property together with the benefit of the subtenants, or where a retailer sells its retailing business to its landlord. In substance the landlord has acquired the tenant’s business.