New Energy Standards Legislation
From April 2018, the proposed government changes will make it unlawful to let residential or commercial properties with an EPC Rating of F or G (i.e. the lowest 2 grades of energy efficiency).
This could have very significant implications for landlords and occupiers who wish to assign or
sublet space. It is estimated that approximately 20% of non-domestic properties could be in the F & G rating brackets. Valuations of such properties could also be affected if their marketability is diminished.
Given this risk to property owners and occupiers it is clear that a full understanding of the energy efficiency of your property assets should be attained.
The Government believes that the “Green Deal” may provide a financial solution to support energy efficiency refurbishment and retro-fit projects. Find out about it here.
Landlords and sub-letting occupiers will need to achieve an EPC “E” rating or have implemented the maximum package of works allowable under the Green Deal.
Exemptions may be made for certain types of properties via secondary legislation. Trading Standards Officers will enforce the rules for commercial properties; the precise level of fines will also be part of the secondary legislation.
Kingsbury specialise in the acquisition and sale of properties suitable for development. Please contact a member of our team to understand what preventative measures can be put in place to mitigate the impact of the changes in EPC legislation.
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