Ireland has banned upwardly-only rent review clauses in business leases; Claim move makes investment in Irish commercial property unattractive
Dec 1st, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Minister for Justice, Equality and Law Reform, Dermot Ahern, TD today signed a banning order on upwardly only rent review clauses in business leases, under section 132 of the Land and Conveyancing Law Reform Act. The section will come into operation on 28 February 2010. It is claimed that the move will make investment in commercial property in Ireland, unattractive.