2022 was a big year for Peter Reynolds Properties, marked by an expansion in the team as well as kicking off some exciting new projects.
Looking forward to this year – one of the biggest challenges commercial landlords will face is the implementation of new environmental regulations to tackle climate change. Buildings account for 39 per cent of global energy-related carbon emissions, according to the World Green Building Council.
What is changing? Subject to certain exemptions, a landlord must not continue to let any property after 1 April 2023 where the property has an EPC Rating of F or G. The minimum standard is set to rise to a C rating by 2027 and to a B by 2030.
What does that mean for property owners? Energy performance will undoubtedly require more prominence in decision making relating to capital expenditure and construction this year. Working with tenants in respect of fixtures and fittings will also assist to reduce operational emissions, from energy needed to heat, cool and power buildings.
What do we think? We are committed to reducing carbon emissions – and would encourage everyone to reflect on their own impact by way of daily building use.