No, unless the break provision itself specifies that it can be exercised in such cases, which is very unlikely. Where a rolling break provision has been included within the lease (i.e.one that can be exercised at any time on notice rather than by reference to fixed dates) then landlords may well find that tenants take advantage of them. Leases should be reviewed for any existing provisions and dates checked.
Where a break is available, or will shortly become available, any conditions attaching to it must be strictly complied with otherwise the break is not effective, and the lease will remain in place for the full remaining period. Tenants should review the conditions they will have to satisfy with their legal advisers and surveyors. Landlords should also review their portfolio of leased properties to anticipate those cases where break provisions could apply. It may be that some variation becomes appropriate to encourage good tenants to remain and not to exercise break rights that might otherwise be available to them.
It is important to remember that once notice has been given exercising a break provision, it cannot be withdrawn. If the parties later want to operate as if the notice had not been given, they effectively need to negotiate a new lease or tenancy.
This note is for general information and guidance and is not legal advice.