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With the United Kingdom boldly pledging to reduce nationwide emissions by 40% by 2030, and buildings contributing to 12% of current emissions, it comes as no surprise that focus is on property to become more environmentally friendly.
To help achieve this goal, Minimum Energy Efficiency standards has said that any property with an efficiency rating of F or G will be illegal to let for any new leases after 1st April 2018, and from 1st April 2023 for existing leases.
Other areas where commercial property owners are being encouraged to make changes is in installing sensor lighting into the communal areas of buildings, using recyclable products for building improvements where possible, and creating bike storage for staff working in the buildings.
Eugene O’Sullivan, a commercial chartered surveyor and Director at Morgan Pryce says, “For a lot of our clients bike storage and showers is a prerequisite, so having these facilities installed will help with the letting of the building“.
Although there is surprisingly little market evidence to show that making a building ‘go green’ will affect its value, as more companies become environmentally conscious this will undoubtedly have an impact on the types of tenants the buildings attract.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.