UK Real Estate—an end to upwards-only rent reviews?
Property analysis: On 10 July 2025, the UK government published its ‘English Devolution and Community Empowerment Bill’, saying it aimed to let local people ‘take the reins in driving growth’. But tucked away in a 338 page Bill dealing primarily with government powers devolved to mayors, strategic authorities and local government is section 71 which is intended to prohibit certain terms in commercial leases, including those prescribing what are known as ‘upwards-only rent reviews’. The government did not undertake prior consultation on this and suffice to say, this has caught the commercial property industry entirely by surprise. We’ve taken a first look at the Bill and how the new provisions might operate if they become law. Written by Tim Reid, counsel at Hogan Lovells.