Nearly a tenth of inner London’s stock of commercial buildings could be unlawful to let from next month, according to new figures.
An analysis of inner London data from the government’s non-domestic EPC register, conducted by BNP Paribas Real Estate, shows that nearly 8% commercial stock is Grade F and G, meaning that it could be unlawful to let from April 2023.
A further 43% could, under proposed changes to MEES (Minimum Energy Efficiency Standard) regulation, be unlawful to let from April 2027 because it is Grade D and E. This means that more than half of inner London’s total commercial stock could be barred from letting from April 2027 (Grades D, E, F & G).
A further 26% or so is rated C and could therefore be unlawful to let from April 2030.
Only 23% of inner London commercial stock is rated A+, A, or B and currently fully MEES-compliant, according to current legislation.