§ Mr. BellinghamTo ask the Deputy Prime Minister what representations the Department has received on proposals to ban upward-only rent reviews in commercial leases; and if he will make a statement. [168904]
§ Keith HillThe issue of upwards-only rent reviews in commercial leases has been of longstanding concern, and prompted the introduction in April 2002 of a new Code of Practice by the property industry. Over the last year, the Office of the Deputy Prime Minister has received seven letters, from the British Retail1134W Consortium and certain companies and individuals, expressing concern about upwards-only rent reviews in commercial leases The issue was also discussed at a meeting of the Property Consultative Group, which I chaired on 3 December 2003.
The Under-Secretary, my hon. Friend the Member for Pontefract and Castleford (Yvette Cooper) announced the Office of the Deputy Prime Minister's decision to go out to consultation on legislative options in a written statement on 23 April 2004, Official Report, column 32WS.