What is an EPC?
All commercial businesses that go to market for sale are legally required to have a commercial Energy Performance Certificates.
The Energy Performance Certificates (EPC) gives prospective buyers or current tenant’s information about the energy efficiency of the building that they are contemplating buying or renting. To produce an EPC, factors such as wall, roof & floor types, glazing, insulation, lighting, ventilation, boiler and air conditioning systems will be assessed. Once all this has been taken into account, a grade will be given from A to G. The energy rating is based on the carbon emissions that a building is likely to produce and lasts for 10 years.
The Certificate includes recommendations on ways to improve the property’s energy efficiency to save money and help the environment. Potential buyers may consider the energy efficiency of the building as part of their decision to buy the business or lease the property.
Why do I need an EPC?
Energy Performance Certificates and the law
As part of the United Kingdom’s commitment to preventing global warming, the UK has pledged at an EU directive, to reduce its CO2 emissions by 20% by the year 2020. The law governing EPC’s is the Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2008.
As of the 6th July 2012, changes to the law state that all commercial businesses that go on the market for sale or to let are required to have a Commercial EPC. As the seller of the business, you are responsible to have applied for an EPC within 7 days of Veritas Business Sales marketing your business, with a further 21 days to obtain the Energy Performance Certificate. Noncompliance with the Commercial EPC legislation can result in a penalty to the seller of up to 12.5% of the rateable value of the property, with a minimum of £500 and a maximum of £5,000; this is in addition to the cost of a compliant Commercial EPC.
How do I get an EPC?
As a client of Veritas Business Sales, we are able to arrange for an Commercial EPC to be undertaken at a time that suits you and your business. At Veritas we are extremely customer focused and want to make this as stress free an experience as possible for you. You’ll then have the peace of mind that as your business transfer agents we have all the information in one place, making the whole process much quicker and smoother for you.