Energy Act could affect 40 per cent of commercial properties | 2 March 2012
40 per cent of commercial properties in the United Kingdom are in danger of breaching new energy efficiency regulations, according to a new report.
A study by property advisers DTZ has indicated that a fair proportion of investors may have to improve the efficiency of their building to comply with the government’s 2011 Energy Act.
The act states that all commercial properties must have a minimum Energy Performance Certificate Rating of ‘E’ by April 2018 in order to be sold.
Paul Brown, who is head of sustainability at DTZ, claimed that the value of the buildings with low energy-efficiency ratings could well be impacted by the impending changes in the law.
Speaking to inspiresme.co.uk, he said: “Final details are yet to be confirmed, but once the proposals are launched, we will no doubt begin to see discounts being factored into property acquisitions to cover the improvements to make buildings sufficiently energy-efficient.”
Property owners have been advised to make any improvements to their buildings in plenty of time to avoid being subjected to inflated prices from construction companies.
In an interview with ibtimes.com, British property federation director of policy Ian Fletcher predicted that an increased demand for energy-efficiency services closer to the April 2018 deadline will result in costs being hiked across the board.
Written by Joe Elvin on behalf of Qube Global Software
While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.
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