That is correct
if the lease is not liked to cpi then clw will lose 7% but that is the risk you take with certainty in income…
what if inflation is 1% ? Then they will get 2% above inflation…
having said that, clw will have market reviews in place every 3 - 5 years in which they can mark up the rent to match market
that will definitely happens with the pubs and some other properties
Ann: CLW 2023 Half Year Results Presentation, page-41
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