Energy Performance Certificates
Smiddy & Co are able to commission EPC’s on behalf of clients.
The vast majority of commercial property transactions are required to have an Energy Performance Certificate (EPC). This shows the official energy efficiency rating of a particular property and should be obtained at commencement of any marketing. Legislation dictates you will not be able to complete your transaction without a certificate; if you do, you are liable to be fined.
Following the recent implementation of the Minimum Energy Efficiency Standards (MEES) that became Law in Parliament 1st April 2018, under the Energy Efficiency Regulations, it is not lawful to grant or renew existing leases for commercial (or residential) units that have an Energy Performance Certificate (EPC) rating of F and G.
As from 1st April 2020, the regulations become even more stringent, capturing all existing domestic property leases and from 2023 all non-domestic properties (there may be some exemptions). For non-domestic property the penalty for non-compliance with the regulations will be linked to the rateable value up to a maximum of £150,000!
Whether on the point of disposing of a property, analysing a single or a property portfolio, action should be taken as soon as possible to consider any likely impact the EPC asset rating may have in affecting the investment value of your asset. Smiddy & Co should be consulted as soon as possible to advise on an Energy Efficiency Strategy.