What is the correct way of including break clause in lease?
The scenario is as follows
•Lease start date: 01/01/2020
•Lease end date : 31/12/2060
•Break clause expected to be exercised: 31/06/2040 [Agreement between lessor and lessee to end lease or to continue the same based on the internal business decision]
•Rent of £10k per annum at start but increases £3k every 10 years
•Paid monthly in arrears
•Discount rate of 10% in FY39 but reduced to 8% in FY40
Thanks.
Atul