Join arbnco and Construction Scotland Innovation Centre for MEES and Section 63 - Risk or Opportunity?
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About MEES and Section 63 - Risk or Opportunity?
This event is a 2 and a half hour formal CPD event valued at £160. However, this event will be free for all attendees. The 2 and a half hours the attendees are present at the event will go towards their own CPD hours.
It is brought to you by arbnco and Construction Scotland Innovation Centre and is aimed at real estate investors, owners, managers, lenders and insurers on the key risks and opportunities emerging from MEES and Section 63.
In Scotland, Section 63 of the Climate Change (Scotland) Act 2009, the Assessment of Energy Performance of Non-Domestic Buildings (Scotland) Regulations, came into effect on 1st September 2016 and now requires energy efficiency action plans to be produced and implemented for regulated properties.
For all professionals involved in buying, selling, letting and managing commercial properties this legislation will have significant financial and regulatory impacts and these need to be assessed, managed and opportunities grasped.
MEES is going to impact on real estate value with respect to finance and marketability. The arbnco application helps asset managers plan & budget investment to improve performance with respect to valuation, marketing and energy performance.
Who MEES and Section 63 will affect?
MEES has highlighted the importance of accurate EPCs, as sub-standard properties are at risk, with potential impacts on acquisitions, sales, rent reviews, lease renewals and capital values.
Poor quality EPCs now put Energy Assessors at risk and open to challenge as their assessments can and will impact multi-million pound sales and lease deals. It is likely that some EPC providers will be caught out when these issues come to light.
Landlords will be exposed to significant industry risks ranging from the inability to generate an income from properties that don’t meet MEES and a reduction of over 10% in the buildings capital value.
Landlords will also be looking be looking to their energy consultants to offer practical advice on how to comply with the MEES Regulations. One obvious area is how to improve a sub-standard property. This requires remodelling of various retrofit recommendations for buildings and providing subsequent costing of these initiatives.
For lenders, the threat lies in buildings that do not meet the minimum standard which could lead to a reduction in value of their security and their ability to the let the property. Furthermore, the ability of a landlord borrower to make repayments because of lost rental income and additional capital expenditure costs will also be affected.
While we take every opportunity to ensure the details for MEES and Section 63 - Risk or Opportunity? are accurate, we always advise that you contact the event organiser before setting out for the event to avoid disapointment.