Government Announcement re small business rent disputes - Martelli McKegg

There has been much debate regarding what a fair rental reduction is under commercial leases where businesses have been affected by COVID-19. The Government had previously done nothing to assist either Landlords or Tenants in this situation.
This morning Government have announced a compulsory rent dispute process where the Landlord and Tenant have been unable to agree on a fair rent reduction during COVID-19 lockdown, which requires compulsory arbitration with Government subsidising the arbitration by about 75%.
This new process is to come into effect from today (4 June 2020) but will only apply in relation to businesses with 20 or fewer full-time employees on the site.