Commercial building owners need to know the new energy efficiency regulations under the Commercial Building Disclosure Program if they are to avoid potentially costly oversights, according to Savills Australia.
Manager office leasing, Mathew Kent, said a landlord’s ability to negotiate his or her way through the current swath of regulatory requirements could be critical to the success of the investment.
Mr Kent said some landlords saw the regulations as a minefield they could not cross.
”But the fact is they are there and need to be managed efficiently,” he said.
Full disclosure provisions for large commercial office buildings came into effect on November 1 last year.
The program aims to ensure energy efficiency information for commercial office spaces over 2000 square metres is disclosed to potential buyers and lessees through a Building Energy Efficiency Certificate (BEEC). Fines of up to $110,000 could apply for non-compliance.
To qualify for a BEEC a landlord needs to have in place:
- An energy rating for the building under the National Australian Built Environment Rating Scheme (NABERS).
- A tenancy lighting assessment.
- Guidance (for tenants and building managers) on how the building’s energy efficiency may be improved.
Mr Kent said identifying and addressing any gaps in the required documentation for the NABERS ratings was also extremely important.
”This is critical for landlords, especially when considering the sale or lease of a building can be significantly delayed - by four to six weeks - if items such as accurate lease plans or schematics are not available,” he said.
