Key facts for MEES
- Buildings including relatively modern office blocks can fall into the F and G grading categories.
- Over 18 per cent of commercial properties are F and G graded.
- Buildings which were on the cusp of a D or E rating could now be downgraded due to enhanced energy performance testing.
- D and E rated buildings make up HALF of all offices and could fall foul of the new regulations.
- MEES regulations could be a significant tool for occupiers looking to renegotiate their lease terms.
- Valuations of properties will be affected.
- There may be an impact on rent reviews, dilapidation assessments and the provision of finance from lenders.
- Landlords can easily find themselves stuck with large liabilities.
- 1 April 2023, the regulations will broaden to make all active leases unlawful for ‘sub-standard’ properties.
Are you affected?