Energy efficiency measures in pipeline for commercial properties - commercial mortgages

27 September 2007

Firms with commercial mortgages should begin considering how to make their properties more environmentally friendly, it has been advised.

Property consultancy King Sturge has said that a forthcoming European directive means that the commercial sector will soon start having to focus on environmental issues in much the same way that the residential sector is now doing following the launch of Home information packs (Hips).

Commercial properties will be rated on their energy from next April, the firm has advised, adding that it is now preparing to conduct efficiency audits with its clients in order to help them prepare for the changes.

"It''s never too early to start thinking green - and now is definitely the time for commercial building owners to start thinking about how they are going to meet their obligations under a new European directive," commented Rachel Andrew, asset management specialist at the firm.

"Generally speaking, however, the vast majority of commercial property owners still haven''t grasped the enormity of what is going to happen," Ms Andrew added.

Investors and other potential occupiers are likely to become increasingly cautious about investing in inefficient properties in future, the specialist added.

The government''s Hip scheme for the residential sector has been dogged by controversy and delays since it was first announced, though it is thought that a full-scale rollout is now imminent.