BPF response to the second reading of the English Devolution & Community Empowerment Bill

Commenting on the second reading of the English Devolution & Community Empowerment Bill, our Chief Executive Melanie Leech CBE said: 

“It was good to see a number of MPs raise the issue of the proposed ban on Upward Only Rent Reviews during the Second Reading of this Bill. The way the announcement was done – without warning or consultation – has spooked investors, particularly international investors, and hurt the UK’s reputation for stable policymaking. The measure won’t even affect many retail leases as they are too short to include these rent review clauses, but will instead affect sectors like offices and logistics, and the ability of long-term investors to invest in modern workplaces. We will continue to raise this issue with MPs and Peers as the Bill progresses.”