Estates Gazette interactive highlights the importance of improvements to commercial property – ‘With the legislative change just 48 months away, prospective purchasers are already using sub-standard EPCs to chip prices. But the market can’t do it all. The government must explain exactly how it will enforce the Act. As importantly, every property owner needs to ensure every one of its buildings is up to standard.’ egi.co.uk, 25-04-2014.
The Energy Act 2011 and 2012 Energy White Paper outlined the implications of MEPS. From April 2018 it will not be possible to let out commercial real estate with an EPC rating less than E. The impending threat of a downgraded EPC rating is leading the industry to look at how to deliver improvements to commercial real estate.
Our view at Brierley & Coe is that property owners should be looking to invest in their assets, not just to attain the minimum standard required under the legislation, but also to improve the future marketability and value of an asset. Clued up tenants and buyers are well aware of the implications of poor EPC ratings.