Fianna Fáil Senator Robbie Gallagher has introduced new legislation in the Seanad which will increase rights for businesses who rent out their premises. The amendment to the Landlord and Tenant (Ground Rents) (No2) Act 1978 will enable a tenant under certain prescribed conditions the opportunity to buy out the freehold of their premises.
Senator Gallagher commented, “This Bill brings forward important amendments to this Act, which directly affects a lot of businesses on the west side of Main Street Carrickmacross and indeed many other towns and cities throughout the country.
“The need for this amendment has arisen from a Supreme Court ruling in 2012. Tenants who would have thought they could buy out the freehold in the premises they occupy subsequently found out they may not be able to do so in light of the interpretation of the Supreme Court ruling in respect of two key elements namely what buildings were involved and what constituted a “predecessor in title”.
“This amendment will seek to resolve these issues and enable a tenant to go forward and buy out their leases giving them business certainty to be able to reinvest and grow their businesses. It will essentially confirm the original intention of the Oireachtas, which was to confer rights on tenants who had long occupation of premises and had developed such premises at their own expense.
“I would like to thank my fellow Oireachtas members from all parties for their support with this proposed amendment, as well as the County Councillors from the Carrickmacross-Castleblayney Municipal District.
“I hope to see this Bill progressed without delay so that business owners in Carrickmacross, and other towns and cities will have certainty when it comes to the purchase of their freehold”.