UK property industry will try to meet green targets, seminar hears
Sustainability as an issue is not going anywhere, so it may pay now to get your properties up to grade so as to avoid any properties suddenly being deemed unlettable under the 2011 Energy Act.
The UK property industry will strive to meet government sustainability targets despite the prolonged economic turndown, property industry leaders told a MIPIM event today (Tuesday 06 March).
Delegates at the event heard that from no later than 2018, and potentially sooner, all F- and G-rated residential and commercial properties could be unlettable under the government’s 2011 Energy Act. It has been estimated this will impact 18% of all commercial properties in the UK, some 600,000 properties.
Delegates at the ‘Are we too broke for sustainability’ seminar heard that while there’s unlikely to be a green premium, that is higher rents or values for better performing buildings, anytime soon, government legislation will eat into the value of F- and G-rated properties, forcing landlords to respond to avoid obsolescence.
Read the full story at Propertywire.com