Close to One-Fifth of North East Commercial Properties To Become Un-lettable Under new Energy Efficiency Rules
Close to 20 percent of all commercial property in the North East of England could be simply rendered un-lettable in two year’s time under the new energy efficiency rules, a recent report issued by Teesside independent commercial property consultants Dodds Brown LLP has been able to suggest.
The Richard Wilson, Senior Associate Partner and Head of Property Management at Dodds Brown, says that new energy efficiency regulations, to be introduced from 1 April 2018, mean that it will be unlawful to rent out business premises with an Energy Performance Certificate rating below E.
He says: “Nearly 20% of commercial property is presently rated F or G. Unless landlords improve these premises before April 2018, they will be unable to agree a new lease on them, with penalties for non-compliance of 20% of rateable value, of up to £150,000.”
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