Retailers welcome ban of upward-only rent reviews

Retail Ireland, the IBEC group that represents the retail sector, have welcomed the decision by Minister for Justice Dermot Ahern to ban 'upward only' rent reviews.

The group said it was looking forward to more equitable leases being put in place in the future to take account of the reality facing many business owners and retailers.

Retail Ireland director Torlach Denihan said: "We look forward to more equity in lease arrangements in the future. Retailers have suffered an enormous decline in sales because of cross-border shopping and weak consumer demand. It is completely unrealistic for these businesses to be faced with upward increases in rent.

"Landlords now need to review current lease and rental arrangements to reflect the realities of the current commercial rental market.

"This is necessary to help retailers deliver lower prices to consumers and regain lost competitiveness."

More in this Section

Honda workers ‘devastated’ as UK car plant to shut putting 3,500 jobs at risk

Sterling little bruised as seven Labour MPs exit party

Providence sizing up west coast drilling campaigns

IHF Cork sees risk of too many hotel rooms


6 tips for stress-free eating out with the kids at half-term

Brooches, berets and all the best accessories at London Fashion Week

Spaghetti on his face and barbecue woes: The Body Coach on his food memories

How to choose the right compost for the right spot

More From The Irish Examiner