Upward only rents odious and unjust: Toibín
Speaking following the High Court ruling today which says that rent for the lease of Bewley’s Oriental Café should be allowed to fall, Peadar Tóibín TD, Sinn Féin spokesperson on jobs, enterprise, innovation said:
“While is it too early to fully access the implications of this judgement it is clear that the judge has recognised the odious and unjust nature of these clauses.
“The continued operation of upward only rent clauses in leases signed before February 2010 is costing jobs, closing viable businesses and creating a two-tier commercial property market.
“There is a need for the government to act to clarify the position and to make good on their promise to end the continued application of these clauses in all existing rents. They need to act immediately to save jobs and businesses.”