EU-UK Spotlight: Renewables, trade, and the global supply chain
Further to our previous articles "UK Real Estate: An end to upwards-only rent reviews?" and "UK proposed ban on upwards only rent reviews: will there be a retrospective element?", the English Devolution and Community Empowerment Bill has today received Royal Assent.
The prohibition on upwards only rent reviews is therefore now on the statute book. However, we await implementation regulations which will bring the ban into effect. For now, therefore, the prohibition on upwards only rent reviews is not yet in force.
The government has committed to consulting on the use of caps and collars alongside the prohibition set out in the Act, and we will keep a close eye on developments. Do get in touch with your usual Hogan Lovells contacts to discuss what the new legislation means for your business.
Authored by Stella Bliss, Ingrid Stables, and Lucy Redman.