UK Government tightens restrictions on minimum EPC standards
When it comes to energy performance and its impact on the environment, our driving ethos is to take a positive, proactive approach. I’m proud to say we’re already streaks ahead of the
UK Government’s newly proposed EPC changes.
The Government plans to tighten restrictions on the minimum EPC standards, aiming for all let commercial properties to receive a “C” grading by 2027, and a “B” by 2030.
According to a report by the Global Alliance for Buildings and Construction 2021, a UN programme, the global buildings sector accounts for 36% of energy consumption. Fifty percent of a building’s carbon footprint is produced during operation and 50% percent during construction.
The forthcoming changes to EPC standards will have a huge impact on the industrial buildings sector. Many industrial buildings in their current state will be ‘unrentable’ as they simply won’t meet minimum EPC standards.
At present, energy performance certificates expire after 10 years and renewals are only required for sales or when new leases are granted.
For long-term tenants, that means potentially renting a building with poor energy performance, without any checks or changes being implemented to lessen environmental impact by improving efficiency – for years.
Efficiency is top of the agenda whenever we acquire a new building, to ensure a better experience for our tenants and a long-lasting relationship founded on trust.
We invest in improvements before tenants move in. We focus on LED lighting, insulation, windows and doors and the like. And every time we acquire a property where tenants are already in place, we create a thorough improvement plan to be implemented with as little interruption to the tenants’ operations as possible.
If you’re looking to invest in efficient, in-demand properties where happy tenants promise high yields, please do get in touch.
And if you’d like to learn more about the forthcoming EPC changes and timelines, please click here.
Formed in 2016, Preston & Preston Capital is a British property investment firm focused on long term ownership, leasing and active management of mixed-use, commercial and light industrial properties. We are constantly seeking new assets to develop and add to our growing high-yield portfolio.
