News
Issue No. 51 - February/March 2010
Govt tenants to call green shots
Green energy ratings are set to have the greatest influence on South Australian property value, tenancy and saleability in 2010, according to commercial and industrial property firm, CB Richard Ellis.
Legislation for mandatory disclosure on energy efficiency will take effect from 1 July, a move likely to see large scale “eco-upgrades” on a significant proportion of commercial property in SA. Director of Asset Services for CB Richard Ellis, Mrs Bobbette Scott said the shift toward sustainable property is inevitable as the costs of energy and water continue to rise. “Property owners must realise the need to improve their environmental credentials to continue to successfully operate in the market,” Bobbette says. “The new legislation will require the owner of any commercial property of more than 2000m² to disclose its energy efficiency rating before selling or leasing the property. This will mean potential tenants and buyers will soon have the means to hold owners and developers accountable on their environmental footprint/rating. “Government tenants make up a large portion of the Adelaide market and, like many other organisations, follow green codes that dictate their tenancies. If a building is not green rated, we will see owners needing serious assistance and commitment to upgrade their properties.”
At CBRE, Bobbette manages a range of commercial, retail, industrial and bulky goods property assets as well as small private and larger institutional...
