South Coast Metropole South Coast Metropole - King Sturge

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King Sturge: South Coast Metrolpole 2008 The aim of the Government is to increase the supply of commercial property, especially for small businesses. Their logic being that landlords will be prepared to let properties to weaker covenants to avoid empty rates, and consequently rents should decrease. What is more likely to happen is that speculative development will dramatically decrease, hence increasing under-supply and driving rents even higher. This is a most curious tax. When markets are booming (and vacancy is low) the Government will earn less tax revenue. On the other hand, when the economy is slow (and there are a lot of vacant buildings) the Government will earn far higher levels of tax revenue. The most serious consequence is that those concerned with social deprivation and urban regeneration will be outmanoeuvred by this tax, and those areas on the fringes of financial viability will suffer most. Energy Performance Certificates Energy Performance Certificates (EPCs) are being phased in during 2008 for all non-residential properties in the UK. The certificates are compulsory and provide a summary of information about the energy performance of a building, its fabric and services, recording the environmental impact of the building from carbon emissions. The certificate will also include a recommendation report listing the measures required to improve the energy rating of the building. The legislation does not require these shortfalls to be addressed. The certificates apply to all ‘non-dwellings’ when they are constructed, rented or sold, although temporary buildings with a planned use of less than two years are exempt. The certificates are valid for two years. A fine of up to £5,000 can be levied by Trading Standards officers for non-compliance. Government concerns about too few qualified energy assessors has led to last-minute amendments to the introduction of EPCs. The Department for Communities and Local Government (DCLG) is to give a six-month grace period to landlords whose property is already on the market when EPCs are introduced in April 2008. The certificates, which give an A to G rating of a building’s potential energy efficiency, were to become compulsory from 6 April 2008 for any building over 10,000 m². The transitional arrangements will mean that any property on the market as of 6 April will not need an EPC until the end of September 2008, provided it stays on the market or is sold before that date. Energy performance certificates and display energy certificates – 2% new per year, 98% old buildings Energy Efficiency Rating Very energy efficient – lower running costs (92-100) A (81-90) B (69-80) C (55-68) D (39-54) E (21-38) F (1-20) G Not energy efficient – higher running costs UK 2005 Current 55 Directive 2002/91/EC Potential 78 Environmental (CO 2 ) Impact Rating Very environmentally friendly – lower CO 2 emissions (92-100) A (81-90) B (69-80) C (55-68) D (39-54) E (21-38) F (1-20) G Not environmentally friendly – higher CO 2 emissions UK 2005 Current 50 Directive 2002/91/EC Potential Commercial buildings of more than 2,500 m² will need an EPC from 1 July 2008, and all other commercial premises from October 2008. It is hoped the move will avoid the controversy that dogged the introduction of Home Information Packs (HIPs), which were delayed last year following a legal challenge from the RICS. The transition period is to be introduced following calls from industry stakeholders who were concerned that too few energy assessors had been accredited to work on commercial schemes. Many would-be assessors were only able to start training at the beginning of March because of delays in finalising the computer model used to calculate the rating. This is a re-run of the disastrous introduction of energy certificates in HIPs in 2007. It illustrates the problem of implementing Europe-wide legislation. A number of countries are facing a similar dilemma in trying to comply with a directive from Brussels but unsure of how to introduce the law. In a related move, the Government also announced that by 2019 it intends that all non-domestic buildings should be zero-carbon. Knowing the problems that this challenge is also creating for the housing industry, where it is imposing enormous costs and logistical challenges, there must be a question mark over whether 2019 is a feasible date for the nondomestic property market. 65 6
EPCs - Implementation 6 April 2008 All commercial buildings for sale or to let over 10,000m 2 , and all newly constructed commercial buildings, to have an EPC 1 July 2008 All commercial buildings for sale or to let over 2,500m 2 to have an EPC 1 October 2008 All remaining commercial buildings for sale or to let, and all private rented and social housing, to have an EPC and all public sector buildings has an DEC. operators, dominated by Flybe. New routes in 2008 include Frankfurt, Nice and Verona. The most popular routes are still UK domestic airports and Paris. Trains, planes and automobiles The Department of Transport is funding improvements to the railway line linking Southampton Port to the West Midlands and Scotland. The £43 million investment will enable the track to accommodate the next generation of sea containers, which are too big to fit through the tunnel under the city centre and under bridges between Southampton and Birmingham. The scheme should increase the percentage of containers that leave the dock by rail, which has fallen to 28% following the introduction of the new sea container. When the scheme is completed in 2011 the number of containers moved by rail will rise to 40%, from around 255,000 to 400,000 per annum, helping to ease the congestion on the city’s roads. Rail freight generally has increased to take about 24% of all the movement of goods in Britain. Expect traffic congestion in the city centre during construction works. Flybe operates from Southampton Airport Bournemouth Airport has announced the start of a redevelopment programme to improve passenger facilities over the next five years. Work has commenced on a new £32 million regeneration programme to include the construction of a new international Arrivals Hall and departure lounge with associated retail and catering facilities. The programme will be delivered in step with predicted rises in passenger numbers, estimated to increase to 1.8 million in 2019 and 3 million in 2015. Works also include improvements to traffic management to and from the terminal and an upgraded bus service connecting with the city centre. New routes have been announced by operators Ryanair, easyJet and Wizz Air, including Alicante, Milan, Grenoble and Geneva, together with Katowice, Warsaw and Gdansk in Poland. Freightliner, Southampton Southampton International Airport continues to expand with 1.96 million passengers in 2007, an increase of 2.8% on the previous year. The 98-yearold facility now serves 46 destinations with 14 7
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Page 35 and 36: Plans to redevelop the 12.54 hectar
Page 37 and 38: End, Southampton. Custom TV Ltd hav
Page 39 and 40: Grade A office accommodation in Oce
Page 41 and 42: McAleer & Rushe, the Irish property
Page 43 and 44: Rok have completed a £1 million mi
Page 45 and 46: Birchmere have let Building D.22 at
Page 47 and 48: Other commercial sectors Fareham In
Page 49 and 50: Dutton Gregory have taken the third
Page 51 and 52: to Her Majesty’s Court Service (H
Page 53 and 54: Isle of Wight Industrial Office Ret
Page 55 and 56: Weymouth Industrial Office Retail P
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LOCATIONS UK England • Scotland
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South Coast Metropole South Coast Metropole - King Sturge

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