As the Deputy may be aware, my Department was established on 2 June 2011 and the position is that it has no lease agreements containing upward only rent review clauses in which it is the landlord.
I am advised that Waterways Ireland, which is one of the North-South Implementation bodies under the aegis of my Department, has ten lease agreements with upward only rent review clauses in place and these all relate to marina leases.
I am further advised that Údarás na Gaeltachta has over 600 lettable units in a substantial property portfolio of over 250,000 square metres located throughout the Gaeltacht in seven different counties. As stated in its latest published Annual Report, 64% of this property is occupied by business or industrial tenants. Several hundred existing leases date from before 28th February 2010, when the ban on upward-only rent review clauses was introduced by Section 132 of the Land and Conveyancing Law Reform Act 2009, and contain standard upward-only rent review clauses.