Park Cakes create cakes for M&S including the beloved Colin the Caterpillar cakes. Decided in the Leeds Business & Property Court about options in leases and whether the subsequent leases are in the 1954 Act. Richard covers market rents and potential upwards and downwards rent reviews. In this episode, hosts Richard and Lizzie take a closer look at Park Cakes V Caterpillar Property Limited (M80LS041 20 March 2026), a decision from the Leeds Business and Property Court involving Park Cakes, the manufacturer behind M&S’s iconic Colin the Caterpillar. This is not just a story about cakes. It’s an exploration of how options in leases operate, including what happens when those options are exercised and whether any resulting lease falls within the protection of the Landlord and Tenant Act 1954. Richard explains that a renewal option gives the tenant an extra choice, not an automatic outcome and the real value lies in deciding which route to use, and when.When it comes to lease options, you can’t always have your cake and eat it.Get in touch! Training & Free Webinars for Property Professionals:Would you like to keep up to date with the latest in real estate law? Davitt Jones Bould offers legal training tailored to your organisation’s needs, delivered in person across the UK or remotely. We also run free monthly webinars through for surveyors, solicitors, and property professionals across sectors. To sign up or learn more, visit our events page here or email [email protected] for information and booking. This podcast is for informational purposes only and is not intended to provide legal or professional advice. No liability is accepted by Davitt Jones Bould for any reliance placed on its content. Get in touch!

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“What did the council decide on item 42?” — answered with the speaker and the moment.