The applicant tenant brought an application for a declaration that it validly exercised its option to purchase two commercial properties from the respondent landlord.
The landlord argued the tenant had exercised the option earlier via an email and subsequently forfeited it by failing to close.
The court found the tenant clearly and unequivocally exercised the option on January 21, 2023, in strict conformity with the lease terms, and was entitled to purchase the properties.
The court also noted it would have granted relief from forfeiture if necessary.
Costs of $35,000 were awarded to the tenant.
