Catherine Carter |
Thursday, 4 February 2010 4:01 PM |
One Comment
2010 should start with an important New Year's resolution for all commercial property owners.
Last November the Federal Government announced its mandatory disclosure scheme to improve the energy efficiency of commercial office buildings. The scheme is due to start in the second half of this year and requires building owners with office space greater than 2000 sq m to provide an up-to-date report on their building's energy efficiency (as measured by the NABERS ratings tool and a Building Energy Efficiency Certificate (BEEC)) at the point of sale or lease. (more)
It takes time to achieve an assessed and accredited NABERS rating. So it is important for building owners and managers to start getting ready for the scheme now.
Owners who don't comply risk a fine or prosecution so the first step for any commercial building owner is to find out if your building is affected. Generally, current NABERS-Energy ratings must be provided when offering for sale, lease, or sub lease any net lettable area of more than 2000 sq m.
But there are some exemptions. For example, you will not have to comply if the part of the building you are offering is less than 2000 sq m, or the owner is not a corporation, but an individual, partnership of government department (though the last will probably participate voluntarily). Only office buildings are captured, so retail, hotel, storage, health care facilities or car parks are exempt. For the moment. You are also exempt if your building is less than a year old or if the lease is for less than a year (and non renewable). Further likely exempt categories will include temporary buildings, buildings to be demolished and places of worship.
Even if your building is exempt it is worth considering energy efficiency disclosure anyway. As it becomes common for office buildings, the market will come to expect such disclosure and use it when choosing premises. The Property Council website contains more detailed information as well as tips.
Catherine Carter |
Thursday, 4 February 2010 4:01 PM |
One Comment
