UK businesses are coming under increasing pressure to ensure their buildings meet sustainability targets
The sustainability of a commercial property is an increasing concern for UK businesses that are under greater pressure to meet environmental targets, according to commercial real estate agents Knight Frank.
Last month, the Royal Institution of Chartered Surveyors
(RICS) revealed the UK is struggling behind the rest of the EU when it comes to adopting sustainable practices. However, it also admitted steady improvements were being adopted across the board.
The report from the RICS revealed the biggest driver of sustainability is coming from businesses themselves, with firms becoming more focused on identifying and meeting their corporate social responsibilities.
Darren Yates, partner in the commercial research team at Knight Frank
, believes legislation will soon force commercial property mortgage holders to improve the sustainability of their premises, although landlords should also be aware of the additional costs involved.
He said: “[Not only is] there legislation coming in which is forcing builders to become more environmentally friendly, but consumers want the companies that they are buying from to behave in a more environmentally friendly way as well.”
Last month, property advisers Savills revealed in their Opportunities in Green report that commercial properties may require energy efficiency overhauls by 2018
The revision to the 2011 Energy Bill
has brought about changes to Private Rented Sector regulations which will ensure private rented properties all have an Energy Performance Certificate (EPC) rating of grade E or above.
Michael Pillow, director of Savills
building consultancy, added: “If the legislation goes through, leasing of a sub-grade E standard property will become unlawful from April 2018.”