As a business owner or prospective buyer, you might be wondering:
What is an EPC, why do I need one and how might I get it?
We'll make this nice and easy for you in this guide, as we will list the answers to some of the most common questions regarding EPC.
What is an EPC?
EPC stands for Energy Performance Certificate(s).
All commercial businesses that go to market for sale are legally required to have a commercial Energy Performance Certificates.
The 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?
The answer is simple:
It’s the law!
As part of the United Kingdom’s commitment to preventing global warming, the UK has pledged to reduce its CO2 emissions.
The law governing EPC’s is the Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2008.
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 Intelligent marketing your business, with a further 21 days to obtain the Energy Performance Certificate.
And doing this is very important:
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 complete Commercial EPC.
How do I get an EPC?
We will arrange for a Commercial EPC to be undertaken at a time that suits you and your business.
You’ll then have the peace of mind that we have all the information in one place, making the whole process much quicker and smoother for you.
How much does an EPC cost?
We are proud to offer a fixed fee for your business of £250+VAT*. Interested? Get in touch with us via 0800 612 7718.
*subject to terms & conditions.
Those are the basics regarding the EPC and what you as a business owner should be aware of.
If you are looking for more guides and insights to prepare yourself for buying and growing a business, you should consult our Knowledge Hub for more information.
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