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The impact of
energy certificates on the investment market and the growing need for
investors to assess the environmental footprint of their property becomes
even more apparent. From October 2008 new rules come into effect that will
allow investors and occupiers to compare the energy efficiency of
buildings.
These rules will be introduced by all European member states by
2009. Energy certification is being introduced in the UK under Part L of
the National Building Regulations, and forms part of the Energy
Performance Of Buildings Directive (EPBD) which is an EU initiative.
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Certification
will raise awareness of energy efficiency in the commercial property
sector in a number of ways;
-
The
system will be visible, quantifiable and mandatory.
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The
system will enhance transparency, and provide a benchmark for both
building and end-user.
-
The
system will enable the energy efficiency of buildings to be compared.
These factors
will change the view of investors in the commercial property sector, due
to sustainability issues and costs of utilities to service those
buildings. As sustainability issues rise up the corporate agenda and
companies place greater emphasis on corporate social responsibility
policies, investors will question the environmental footprint of their
property portfolios.
See also Social
Housing.& Property Rental Energy
Certificates.
An EPC provider can assist in the provision of
energy inspection services and the issue of certificates for rented
accommodation. A domestic energy assessor cannot issue an EPC for
commercial or public buildings, these can only be issued by approved commercial
energy assessors.
Investors
will be keen to find energy efficient buildings due to the potential
returns they offer. The most important factor is the threat to the value
of an energy inefficient buildings due to accelerated obsolescence,
considerable resources may be required to bring these properties up to the
latest standards.
New Build
homes require Energy Assessment by an authorised energy inspector, refer
to SAP
Energy Assessors New
Build EPC for further information.
Buildings
which are classified as "Commercial" require inspection by
qualified Energy Assessors, for further information relating to energy
assessment of property in this sector please refer to Commercial
Energy Assessors
These types
of investments need to generate positive returns over a prolonged period,
between 20 and 50 years for commercial buildings. The owners of these
properties must anticipate potential changes to occupier demand over time.
Demand for
space in the occupier sector of the market will become more sensitive to
energy efficiency, and buildings that achieve high SAP (Standard
Assessment Procedure) performance ratings will attract stronger demand. In
contrast, those properties considered to be "unsustainable"
assets are more likely to become less desirable to tenants. The impact of
sustainability on the rental and capital values will depend in part on
market conditions. In the current market there is stong demand and good
stock is scarce, there is little differentiation between different kinds
of product. Over time, energy efficiency of commercial property will
increase in importance, increasing rental growth and higher capital gains
for "sustainable" buildings will lead to stronger growth in this
sector. Sustainable property is likely to lead to lower tenant turnover
and shorter vacant periods.
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Investors may
need to invest further cash resources to enhance their
"unsustainable" assets in the market place. In this environment
"sustainable" assets would be more liquid than their
"unsustainable" counterparts. It is probable that a 2 tier
market will develop, where energy efficiency will be considered as
"prime space".
Eventually when buildings have been surveyed to
determine their efficiency ratings and the data collated in a central
database this information could be made available to property appraisers.
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Large, and complex building structures will require assessment through a
principle known as "SBEM" specialised companies undertake this
type of work - refer to SBEM
Energy Assessment for more information.
However, as the demand for sustainable buildings expands, this may change
in the longer term, it is possible that a significant adverse yield impact
on energy inefficient buildings may become evident, as a result of lack of
rental growth prospects. The legislative and social context for investing
in commercial property is changing, and the introduction of the EU
Directive (EPBD) represents just one area that will affect landlords,
tenants and owners of property portfolios.
In order to
assess a properties performance and gain an energy rating certificate,
owners of industrial or commercial property must enlist the services of an
energy assessor who will conduct a survey using the full SAP methodology.
The inspector must be licensed and accredited by a professional body.
Further
Reference:
Energy
Ratings
Energy
Assessment Ratings for New Build Property
Energy
Assessment Ratings for Existing Property
Where
can I find a Commercial Energy Assessor?
Training
& Accreditation Energy
Performance Certificates (EPC) have the potential to change the commercial
property
market in a profound way. Shrewd investment in the current climate may
well prove lucrative in tomorrow's future.
Owners of commercial, industrial & public premises will need to find out if their
building is affected by the new legislation, refer to: Does
My Building Need An Energy Performance Certificate?
Energy
assessment of these buildings is already underway and the timetable
for the deadline for EPC's has been established.
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Commercial premises and public buildings, must be inspected by an
authorised SAP Assessor, energy
calculation for these types of buildings differ from domestic property. Full
SAP or SBEM methodology is used for industrial premises.
Currently,
property landlords will require an energy certificate for properties from
October 2008. Owners can voluntarily provide a certificate up to the
proposed deadline, after this time an energy certificate will be
mandatory. See also landlords and
tenants for more information.
For landlords who own property that is rented to tenants, an EPC is
required from October 2008 for more information refer to Landlords
EPC
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For further
information regarding energy assessment in Scotland please refer to EPC
Scotland for details on the Home
Report in Scotland for home sellers. For Energy
Reports Scotland please refer to Energy
Reports in Scotland (Energy Performance Certificates) EPC.
Details for Commercial
EPC Scotland.
Commercial
Property Energy Assessors Energy Performance Certificates
EPC Property
Inspectors DEC Providers- For commercial property inspectors,
buildings inspectors, energy performance certificate DEC (EPC)
providers.
For Domestic
EPC's in Scotland produced with the Home Report please refer to a list of
providers at:
EPC Aberdeenshire
| EPC Angus
| EPC Argyll
| EPC Ayrshire
| EPC Banffshire
| EPC Berwickshire
| EPC Caithness
| EPC Clackmannanshire
| EPC Dumfriesshire
| EPC Dunbartonshire
| EPC East
Lothian | EPC North
Berwick | EPC Fife
| EPC Inverness-Shire
| EPC Isle
Of Lewis | EPC Kincardineshire
| EPC Lanarkshire
| EPC Midlothian
| EPC Morayshire
| EPC Nairnshire
| EPC Orkney
Isles | EPC Peeblesshire
| EPC Perthshire
| EPC Renfrewshire
| EPC Ross-Shire
| EPC Selkirkshire
| EPC Stirlingshire
| EPC Sutherland
| EPC West
Lothian | EPC Wigtownshire
Individual
Cities & Towns:
EPC
Aberdeen, EPC
Aboyne, EPC
Alford, EPC
Ballater, EPC
Ellon, EPC
Fraserburgh, EPC
Huntly, EPC
Insch, EPC
Inverurie, EPC
Milltimber, EPC
Peterculter, EPC
Peterhead, EPC
Strathdon, EPC
Turriff EPC
Westhill
EPC
Arbroath, EPC
Brechin, EPC
Carnoustie, EPC
Dundee, EPC
Forfar, EPC
Kirriemuir, EPC
Montrose
EPC
Acharacle, EPC
Appin, EPC
Ballachulish, EPC
Bridge Of Orchy, EPC
Cairndow, EPC
Campbeltown, EPC
Colintraive, EPC
Dalmally, EPC
Dunoon, EPC
Inveraray, EPC
Kinlochleven, EPC
Lochgilphead, EPC
Oban, EPC
Tarbert, EPC
Taynuilt, EPC
Tighnabruaich
EPC
Ardrossan, EPC
Ayr, EPC
Beith, EPC
Cumnock, EPC
Dalry, EPC
Darvel, EPC
Galston, EPC
Girvan, EPC
Irvine, EPC
Kilbirnie, EPC
Kilmarnock, EPC
Kilwinning, EPC
Largs EPC
Mauchline EPC
Maybole EPC
Newmilns EPC
Prestwick EPC
Saltcoats EPC
Skelmorlie EPC
Stevenston EPC
Troon EPC
West Kilbride
EPC
Aberlour, EPC
Ballindalloch, EPC
Banff, EPC
Buckie, EPC
Keith, EPC
Macduff
EPC
Berwickshire, EPC
Cockburnspath, EPC
Coldstream, EPC
Duns, EPC
Earlston, EPC
Eyemouth, EPC
Gordon, EPC
Lauder
EPC
Berriedale, EPC
Dunbeath, EPC
Halkirk, EPC
Latheron, EPC
Lybster, EPC
Thurso, EPC
Wick..
EPC
Alloa, EPC
Alva, EPC
Clackmannan, EPC
Dollar, EPC
Menstrie, EPC
Tillicoultry
EPC
Annan, EPC
Canonbie, EPC
Dumfries, EPC
Gretna, EPC
Langholm, EPC
Lockerbie, EPC
Moffat, EPC
Sanquhar, EPC
Thornhill..
EPC
Alexandria, EPC
Arrochar, EPC
Clydebank, EPC
Dumbarton, EPC
Helensburgh
EPC
East Lothian, EPC
East Linton, EPC
Gullane, EPC
Haddington, EPC
Humbie, EPC
Longniddry
EPC
Prestonpans, EPC
Tranent
EPC
Anstruther, EPC
Burntisland, EPC
Cowdenbeath, EPC
Cupar, EPC
Dunfermline, EPC
Glenrothes, EPC
Inverkeithing, EPC
Kelty, EPC
Kirkcaldy, EPC
Leven, EPC
Lochgelly, EPC
Newport-On-Tay, EPC
St Andrews, EPC
Tayport
EPC
Arisaig, EPC
Aviemore, EPC
Beauly, EPC
Boat Of Garten, EPC
Carrbridge, EPC
Corrour, EPC
Dalwhinnie, EPC
Fort Augustus, EPC
Fort William, EPC
Glenfinnan, EPC
Invergarry, EPC
Inverness, EPC
Kingussie, EPC
Lochailort, EPC
Mallaig, EPC
Nethy Bridge, EPC
Newtonmore, EPC
Roy Bridge, EPC
Spean Bridge
EPC
Stornoway
EPC
Banchory, EPC
Laurencekirk, EPC
Stonehaven
EPC
Airdrie, EPC
Bellshill, EPC
Biggar, EPC
Carluke, EPC
Coatbridge, EPC
Glasgow, EPC
Hamilton, EPC
Lanark, EPC
Larkhall, EPC
Motherwell, EPC
Shotts, EPC
Strathaven, EPC
Wishaw
EPC
Balerno, EPC
Bonnyrigg, EPC
Currie, EPC
Dalkeith, EPC
Edinburgh, EPC
Gorebridge, EPC
Heriot, EPC
Juniper Green, EPC
Kirknewton, EPC
Lasswade, EPC
Loanhead, EPC
Musselburgh, EPC
Newbridge, EPC
Pathhead EPC
Penicuik, EPC
Rosewell, EPC
Roslin
EPC
Elgin, EPC
Fochabers, EPC
Forres, EPC
Grantown-On-Spey, EPC
Lossiemouth
EPC
Nairn
EPC
Kirkwall, EPC
Orkney, EPC
Stromness
EPC
Innerleithen, EPC
Peebles, EPC
Walkerburn, EPC
West Linton
EPC
Aberfeldy, EPC
Auchterarder, EPC
Blairgowrie, EPC
Callander, EPC
Crianlarich, EPC
Crieff, EPC
Doune, EPC
Dunblane, EPC
Dunkeld, EPC
Killin, EPC
Lochearnhead, EPC
Perth, EPC
Pitlochry
EPC
Bishopton, EPC
Bridge Of Weir, EPC
Erskine, EPC
Gourock, EPC
Greenock, EPC
Johnstone, EPC
Kilmacolm, EPC
Lochwinnoch, EPC
Paisley, EPC
Port Glasgow, EPC
Renfrew, EPC
Wemyss Bay
EPC
Achnasheen, EPC
Alness, EPC
Avoch, EPC
Cromarty, EPC
Dingwall, EPC
Fortrose, EPC
Gairloch, EPC
Garve, EPC
Invergordon, EPC
Kyle, EPC
Muir Of Ord, EPC
Munlochy, EPC
Plockton, EPC
Strathcarron EPC
Strathpeffer EPC
Strome Ferry
EPC
Galashiels, EPC
Selkirk
EPC
Bonnybridge, EPC
Denny, EPC
Falkirk, EPC
Grangemouth, EPC
Larbert, EPC
Stirling
EPC
Ardgay, EPC
Dornoch, EPC
Brora, EPC
Forsinard, EPC
Golspie, EPC
Helmsdale, EPC
Kinbrace, EPC
Lairg, EPC
Rogart
EPC
Bathgate, EPC
Boness, EPC
Broxburn, EPC
Kirkliston, EPC
Linlithgow, EPC
Livingston, EPC
South Queensferry, EPC
West Calder.
EPC
Newton Stewart, EPC
Stranraer
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