COVID-19 Relief for Commercial Tenants

Updated Wednesday, 13 May at 12.53pm

A message to our Tenants from Essendon Fields’ CEO

As we are all very aware, the situation with the COVID-19 pandemic is changing daily.

Throughout this crisis, Essendon Fields has been:

  1. Maintaining the safety and hygiene of our facilities
  2. Keeping our customers updated on the latest changes
  3. Supporting our customers with financial relief where required
  4. Working with our business partners to lower operational expenditure
  5. Responding to Federal and State Government legislative changes
  6. Planning thoroughly to ensure the future success of our precinct

Our priority has been, and remains, to support our customers with timely (immediate in some cases) and appropriate cash flow relief where it is required.  We acted quickly at the start of the crisis to provide this support where it was needed, and in the main, our approach has been well received by customers.

We also adopted this form of support because it is was fast, simple, flexible, and extendable if the crisis continues longer than expected. We have however been mindful that paying deferred rent over a period may be burdensome, and from the outset have attempted to be as fair, reasonable and realistic as possible.

Recently, the Commonwealth and State Governments announced a range of packages for businesses, including the National Cabinet’s Mandatory Code of Conduct – SME Commercial Leasing Principles During COVID-19 (“the Code”). This Code has now been implemented in Victoria by the Victorian State Government under the COVID-19 Leasing Regulations 2020.

This new legislation may require changes to our various offers or proposals to defer rent payments, and Essendon Fields has communicated with our customers to determine their eligibility and set out the information required from tenants to make an application for support under the new Regulations.

The next few months are going to be challenging as our respective businesses adapt and reorganise themselves. We will continue to respond to the situation as it evolves.

We thank our tenants for their continued support and understanding; and assure them of ours.

With my best wishes

Brendan Pihan, Chief Executive Officer