Nearly 18,000 commercial rental properties in England and Wales still have energy performance certificates (EPCs) rated F or G, which do not meet the Minimum Energy Efficiency Standards (MEES) implemented in April 2023.
Analysis by Search Acumen, which is based on government non-domestic property EPC data to April 2024, estimates this non-compliance could result in a loss of about £750 million in annual rental income.
From 1st April 2023, government regulations mandate that all rented commercial properties must have an EPC rating of at least E.
The analysis shows that it will take until 2038 for all rented commercial properties to meet the 2030 MEES standards at the current rate of progress, missing the deadline by almost a decade.
For all commercial properties, including those for sale or under development, it is expected to take until 2045 to reach the required standards.
The office sector is most affected, with approximately 8,000 properties still rated F or G, according to the report.
In contrast, the hospitality sector has a higher per cent of properties rated A, A*, or B, with only 2% rated F or G.
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