What is a commercial EPC?
A commercial EPC (Energy Performance Certificate), also known as non-domestic EPC, is a certificate that tells you how energy efficient a property is.
The EPC ratings vary from A to G, with A being the most energy efficient and G being the least. In general, new build properties likely have higher ratings than old buildings.
EPC for commercial property sellers and landlords
It is a commercial property owner’s responsibility to prepare and provide a commercial EPC before the property can be marketed for sale or let. Once produced, a commercial EPC is valid for 10 years. A high EPC rating would suggest the property is either modern or well looked after. As a result, this would make your property more attractive to prospective buyers and tenants.
If you fail to make a commercial EPC available, you could face penalties, which normally equal to 12.5% of the property’s rateable value – with a minimum fine of £500 and a maximum of £5,000.
There are commercial property types that will not require an EPC, such as place of worship, non-residential agricultural premises, listed buildings, temporary buildings that will be occupied for less than two years and buildings that are due to be demolished.
How long it will take to produce an EPC vary, especially in the commercial field, due to the diverse variations in size and shape. A small retail or office can be assessed within a few hours, while a large hotel and other retail premises can take significantly longer.
Commercial EPC for buyers and tenants
If you are looking to rent or buy a commercial property, you should ask to see an EPC when conducting a viewing. Although many might forget its importance, a commercial EPC may indicate things that could become costly once you have purchased or leased the property.
For this reason, an EPC is something you should take into consideration when choosing which commercial property to buy or rent. At the same time, if a property has a low EPC rating, you may want to carry out negotiations relating its purchase or rental price.