Court to decide on reduction in Bewley's rent for Grafton Street
The iconic Bewley’s Cafe on Grafton Street may get a cut in its €1.5m rent.
The High Court has already determined the rent charged by Johnny Ronan-controlled company Ickandel, whose loans have been transferred to Nama, should come down to current market rates.
The tenants of the Bewley’s premises signed a 35-year contract in 1987 and they currently pay an annual rate of €1.5m per year, which was doubled at its last rent review in 2007, in the peak of the property boom.
They will find out on Tuesday if they are due a court-mandated rent reduction.