The Energy Act gained Royal Ascent in October 2011. If enforced it would have a dramatic affect on the commercial property market since from 2018, Landlords and Tenants would not be able to sell or let their property unless it has an energy rating of E and above.
Many buildings would be affected since for example, there were a total of 4,850 office EPC’s carried out in the last 4 years which have a rating of F or G.
Ian Moore, Energy Assessor at Goadsby commented “The energy efficiency of a commercial property could become a major property consideration particularly if a substantial amount of money is required to upgrade a property to a level suitable for sale/letting. In some instances, it may even be more financially viable to demolish a poorer quality property and sell the land or construct a new building in its place.”
