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The new minimum energy efficiency standards (MEES) have been introduced as a step towards reducing the negative effect of the commercial property market on the environment. Although this has been talked about in the media a lot, the MEES will not actually be implemented until April 2018; however, as the deadline approaches, it is time to consider the effect the new standards will have on landlords.
The MEES will make it unlawful for landlords to let out buildings with an EPC rating of less than E, and the costs associated with meeting this standard are estimated to be between £600 and £10,000.
Eugene O’Sullivan, Chartered Surveyor and Managing Director at Morgan Pryce, says; “The tightening of standards will benefit tenants, because landlords will have to improve the quality of buildings without making tenants pay for the developments through service charges or rent increases.”
Ways to improve your EPC rating include replacing halogen or higher energy lighting with low energy solutions or compact fluorescent lights, and improving wall construction by ensuring any cavity wall is filled.
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.