- Oct 26, 2008
Breaking news from the High Court on RTE and Irish Independent website.
And on RTE:BEWLEYS cafe has secured a landmark victory to stop its landlord hiking the rent again.
The famous Grafton Street restaurant sought to prevent any increase on the 1.5m a year imposed at the peak of the property bubble in January 2007.
Mr Justice Peter Charleton ruled that the rent must be allowed to drop to a level to reflect the state of the market.
It is estimated to be half of what it was set at five years ago.
The Dublin building is owned by Ickendel Limited, a property company controlled by the developer Johnny Ronan.
Obviously it will be down to the terms of individual leases but this ruling could have massive implications for landlords and businesses alike - and get the government off the constitutional hook it finds itself on.A High Court judge has ruled that the rent payable by Bewley's Oriental Café in Grafton Street, Dublin, to its landlord, must be allowed to fall in line with the currently depressed open market rate.
The restaurant's landlord, Ickendel Limited, which is owned by Johnny Ronan's Treasury Holdings Group, had claimed it was entitled to a five-yearly upwards only rent review.
Court rules in favour of Bewley's rent reduction - RTÉ News