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REIQ Journal : February 2010
During 2010, regulation will be introduced requiring all commercial office buildings with more than 2000m2 for sale, lease or sub-lease to disclose their energy efficiency performance. Australia’s state governments have agreed to a new national scheme to improve the energy efficiency of commercial office buildings. Starting in the second half of 2010, building owners will need to provide up-to-date energy efficiency information when they sell or lease office space covering more than 2000m2 . Building owners will need to disclose a valid Building Energy Efficiency Certificate (BEEC), which will include a National Australian Built Environment Rating System (NABERS) Energy base building star rating. It will also include an assessment of the lighting energy efficiency of tenancies and some suggestions on how to improve the building’s energy efficiency. Certificates will remain valid for 12 months and, once legislation is in place, owners who don't comply will risk a fine or prosecution. Tenants who are sub-leasing office space with a net lettable area of 2000m2 or more will also need to comply. New office buildings will be exempt from the scheme until they have sufficient energy use data to obtain a rating. Disclosure will occur: When office space is advertised for sale or lease, a NABERS Energy star rating must be included in the advertisement; When prospective buyers or tenants enquire about office space, they must be provided with a valid BEEC as early as possible in the process, free of charge, whether requested or not; Prospective buyers or tenants will also be able to access the certificate on an online registry using a unique reference number. According to Environment Minister Peter Garrett, “This means all parties—the building owner and potential buyers or Mandatory disclosure – start preparing now By Shonay Waters, Editor, REIQ Journal REIQ Journal February 2010 40 Commercial & Industrial
December January 2010