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"Bewley's wins court battle against upward-only rent move"

  • 25-03-2013 3:24pm
    #1
    the_syco
    Registered Users, Registered Users 2 Posts: 37,316 ✭✭✭✭


    http://www.breakingnews.ie/ireland/bewleys-wins-court-battle-against-upward-only-rent-move-589120.html
    Bewley’s Café has secured a landmark victory to stop its landlord hiking the rent again.
    It is estimated to be half of what it was set at five years ago.[/B]
    Rent on the four-storey building, traditionally known as Bewley’s Oriental Café, has gone from €213,000 in 1987 when the lease was first signed to €1.46m in 2007.

    The case heard that Grafton Street rents are said to be down 52% from the peak if a tenant gives up a lease and a landlord seeks a new occupier.

    This would be seen as good news for a lot of the bigger shops on the high street, that are paying rents higher than that of the Celtic Tiger era, during a recession. I hope more businesses will use this to get a better rate to allow them to stay in business.


Comments

  • #2
    Boulevardier
    Registered Users, Registered Users 2 Posts: 1,375 ✭✭✭Boulevardier


    An excellent result.

    I think the government should take note. They broke a promise to legislate on upward-only rents on debatable "constitutional" grounds.


  • #3
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,243 Mod ✭✭✭✭godtabh


    If this filters down to the consumer it will be good news


  • #4
    gaius c
    Registered Users, Registered Users 2 Posts: 3,528 ✭✭✭gaius c


    Apparently, this was only successful because of a glitch in the wording. It may not set a precedent for other existing commercial leases. Hopefully I'm wrong though.


  • #5
    Sulla Felix
    Closed Accounts Posts: 2,442 ✭✭✭Sulla Felix


    gaius c wrote: »
    Apparently, this was only successful because of a glitch in the wording. It may not set a precedent for other existing commercial leases. Hopefully I'm wrong though.
    Hopefully they all copypasta'd the same lease or similar amongst themselves. I've heard of lazier practices.


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