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Commercial property investors urged to think green
25.03.10
This means up to ten per cent of commercial properties in the UK will need expensive improvements to meet the strict environmental standards, otherwise owners will not be able to sell them.
Auction Finance Limited which lends for auction purchases believes it is important for investors to be aware of these regulations before they bid.
Chris Baguley, director at funding specialist Auction Finance Limited said:
"The proposals are already having an effect. No property investor can afford to ignore what's in the pipeline. The rules aren't set to come in until 2020 but they may be the tip of the iceberg. As energy efficiency remains at the top of the government agenda new rules and regulations are sure to follow.
"It will be worthwhile ensuring properties are up to scratch now. There is no need to be put off, not all improvements are costly and investors should take advantage of the fact that many commercial properties are at rock bottom prices in auction rooms and there are many grants available to help."
Energy Performance Certificates (EPCs) are now required for all commercial buildings whenever built, rented or sold. They were introduced in 2008 to provide a grading system for energy efficiency.
"It will be worthwhile ensuring properties are up to scratch now. There is no need to be put off, not all improvements are costly and investors should take advantage of the fact that many commercial properties are at rock bottom prices in auction rooms and there are many grants available to help."