UKWA concerned about proposed ban on upwards only rent reviews
The association has highlighted unintended consequences for industrial and logistics properties, such as lowering funding levels for warehouses.
THE UKWA’s director of policy & public affairs Edwin Morgan said: “Several UKWA members expressed their concern about the ban on Upward Only Rent Review clauses in the English Devolution Bill, which is currently going through Parliament. While the Government seems to have intended it to protect high street shops, it was important to highlight the possible unintended consequences for industrial and logistics properties, potentially damaging the availability of funding for these projects.”
The UK Warehousing Association took the opportunity to raise members’ concerns around the potential impact of government property reforms at the Labour Party Conference.
A special lunchtime meeting of the UKWA’s Property & Planning Advisory Board was attended by Mike Reader MP and chaired by Ian Henderson, Vice Chairman of UKWA’s management board and Group Head of Property for Associated British Ports (ABP).
Morgan added: “It was great to have the ear of Mike Reader, who is a known champion for the logistics sector, and to have the opportunity as the voice of warehousing to air the views of members in the most relevant of environments.”
Mike Reader is Chair of both the Infrastructure, and the Built Environment All Party Parliamentary Groups, as well as the MP for Northampton South at the heart of the UK’s ‘Golden Triangle’.
