December 2012: Interesting report from independent commercial property adviser GVA who have issued their latest annual survey of commercial property investors’ views on sustainability. Points to note from the report include:
- It is only five years to go before the EPC minimum energy performance standards kick-in (for both domestic and non-domestic properties). In accordance with The Energy Act 2011, by April 2018, it will become illegal to let residential or commercial properties that do not meet a minimum energy performance standard. The government have announced their intention to use an EPC rating of E as the minimum standard. This could have very significant implications for landlords and property investors alike with currently a fifth of commercial properties below this standard.
- This latest survey indicates an increased emphasis on the importance of sustainability in property, despite the significant economic challenges that remain. However it will still do little to convince industry critics that the current trajectory of improving property stock will meet Government deadlines.
- The survey shows a trend between 2007 and 2012 of investors placing increasing importance on sustainability factors within their acquisition and disposal decision making.
- The report also stated that only a third of survey respondents believe the current poor market conditions have caused a lessening of importance towards sustainability issues by investors.