Question to the Department for Environment, Food and Rural Affairs:

To ask the Secretary of State for Environment, Food and Rural Affairs, what percentage rental increases tenants of New Covent Garden Market Authority have been subject to in the last five years; and what such increases that Authority has planned for future years.

The last rent review for the tenants of New Covent Garden Market was at the time of the renewal of the leases on the market as at 31^st March 2010. At that time the rents across the market increased by 8.7%. There have been no increases since that date.

Under the terms of the tenants’ leases the Covent Garden Market Authority (CGMA) is currently undertaking a rent review as at 31^st March 2015. As negotiations with tenants on the level of increase continues, the proposals from CGMA are commercially confidential but the increases proposed are based on the increase in market rent for similar premises in the local area since the last rent review in 2010.