Key case Shatters Irish Upward-only-rent-reviews

Despite ‘incompatibility with constitution and expense of implementation…’, a landmark court case is potentially a major development in Irish case law which puts in doubt the ability of a commercial landlord to enforce so-called “Upward Only Rent Review” terms in pre-February 2010 leases.

Apart from refusing to allow the enforcement of the UORR clause, the Judge has apparently ordered the rent to fall to current market levels, which are more than 50% less than peak rents in 2006-8. This judgement could affect all other similar leases in Ireland, making retail rents more manageable for businesses throughout the country.

As additional details of the judgement of 25th March become available, it appears likely that the judgement will be appealed. Hopefully, common sense will prevail in abolishing UORRs, effectively removing what is a partial cause of the current high shop vacancy rate in Ireland...

Those with interests in the Irish market can access full details including the final judgement here