The outlook for office markets: How will energy performance impact office stocks
Reasons to choose Wilson Browne
The Royal Institution of Chartered Surveyors (RICS) has published an article https://www.rics.org/news-insights/wbef/the-outlook-for-office-markets-how-will-energy-performance-impact-office-stocks reflecting on the future of demand for office assets with reference to the increased legislative requirements regarding Minimum Energy Efficiency Standards (MEES).
The MEES regulation proposes that existing commercial property should achieve a minimum energy performance certificate rating of ‘C’ by 2030. RICS has noted that research conducted by Savills found that nearly 50% of offices are currently below this benchmark.
The RICS has suggested that energy efficiency regulations are the ‘dominant driver’ of demand for the ‘highest-grade office stock’ and has predicted that this demand will outpace supply within five years.
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Posted:
Tom Warrender
Partner
Tom is a Partner and Commercial Property Solicitor with a wealth of experience acting for clients both locally and nationally since 2005.