A Vancouver-based real estate firm, Upfield Capital Management, has ­purchased Oak Bay’s historic Bell Block building, and tripled the rent.

The owners of one of the five small businesses on the block say they’re ­facing a 59-per-cent hike rent hike over the next five years.

Increases on that scale are well beyond the reach of most small outlets.

Oak Bay Coun. Hazel Braithwaite noted that these are long-established, well-loved stores that contribute ­enormously to the character of ­downtown Oak Bay. But she fears they may not be able to stay because of the huge rent hike.

We contacted Upfield Capital Management and asked if they could ­confirm the reported rent increases. We didn’t receive an answer.

The predicament facing Bell Block stores is by no means an exception. Small business owners in several cities across the province have complained about unmanageable rent increases, and asked for help.

The question is what can be done about this........

© Times Colonist