As of 1st April, it is estimated that 19% of all rented commercial and residential property could be unlettable without immediate improvements in energy efficiency. The figure increases to 23% for office premises and failure to comply could result in fines of up to £150,000.
Under the Climate Change Act 2008 the UK has committed to reducing its greenhouse gas emissions by at least 80% by 2050, compared to 1990 levels. As part of that commitment, the Government set the interim target of reducing emissions by 57% by 2030. The release of the long awaited Government guidance on MEES also reinforced the commitment that MEES is happening, whether or not the country is in or out of the European Union.
MEES comes into force under the Energy Efficiency (Private Rented Property) (England & Wales) Regulations 2015, a product of the above Climate Act.
How we can assist
Trying to establish which buildings will require alterations is not always straightforward and it is recommended that professional advice is sought in order to avoid falling foul of the new rules. Limited exemptions are available but must be registered on a central Government register to be valid.
In order to mitigate the potential impact of these new regulations, Nidus advises clients to review their portfolios in order to ensure that appropriate action is taken in due time. If you believe these new regulations may affect you, then advice can be provided either through attending one of our seminars or discussing with us directly.
If you would like advice to ensure that you are meeting the new requirements, or to organise a seminar for your company, please contact Simon d'Arcy.