From 1st April 2018: Unlawful to grant new leases or renewals of energy inefficient commercial or domestic properties in England and Wales.
1 in 4 buildings fall into this bracket.
- Fines of upto £150,000
- Cannot lease without upgrades
- Implications for secured lending
- Rent reviews
- Dilapidations assessments implications
- ‘brown tax’ on valuations
- Disgruntled tenants
These regulations do not yet affect sales but apply to both commercial and domestic rented properties with EPC ratings less than an E. At present 1 in 4 buildings are captured by this legislation and are at risk.