Author
Listed:
- Martin Turley
- Sarah Sayce
Abstract
Purpose - – The Government of UK is committed to reducing Green House Gas emissions by 80 per cent based on the 1990 levels, by 2050. In order to achieve this reduction, the UK Government, along with their European counterparts, have implemented various directives and incentives, which progressively and incrementally are intended to move them towards this target. One such directive is the European Energy Performance of Buildings Directive, which sets the policy for achievement. The paper aims to discuss these issues. Design/methodology/approach - – This paper seeks to examine the complexities of these changes when considered against the real world use and operation of buildings, most particularly at lease end. It explores the inter-relationship of landlord and tenant at lease expiry and renewal. Findings - – It argues that the Energy Act regulations might have significant impact on the actions of landlords and tenants; both in advance of and shortly after the lease is determined. Practical implications - – One of the key mechanisms contained within this directive for the reduction in emissions is the Energy Performance Certificate (EPC). An EPC must be produced where a building is being constructed, rented or sold. EPCs rate buildings on their asset energy performance and in conjunction with building regulations are becoming increasingly more stringent to achieve targets. Regulations under the Energy Act 2011, due to take effect from April 2018, will mean that it will be unlawful to let or re-let a building which fails to reach minimum energy performances standards, currently defined as an E rating; further it is intended that the regulations will extend to all lettings from 2023. Originality/value - – This paper looks at the inter-relationship of landlord and tenant at lease expiry and renewal with the proposed directives on EPCs.
Suggested Citation
Martin Turley & Sarah Sayce, 2015.
"Energy performance certificates in the context of sustainability and the impact on valuations,"
Journal of Property Investment & Finance, Emerald Group Publishing Limited, vol. 33(5), pages 446-455, August.
Handle:
RePEc:eme:jpifpp:v:33:y:2015:i:5:p:446-455
DOI: 10.1108/JPIF-05-2015-0035
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:jpifpp:v:33:y:2015:i:5:p:446-455. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
We have no bibliographic references for this item. You can help adding them by using this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .
Please note that corrections may take a couple of weeks to filter through
the various RePEc services.