The planned implementation of the new rules for workspaces in London would result in about ten percent of such structures becoming obsolete and unstable. This is the conclusion backed up by the analysis of a real estate firm.
Research investigation has revealed that twenty million square feet of the city’s workspace are not in compliance with the proposed energy rules. This is frightening as it indicates ten percent of the overall workspace stock available in the city. So the relevance of these structures hangs on uncertainty as there is no assurance of their utility once these rules come into effect.
Concerning the new representations of building leasing and construction, buildings in the UK whose ratings fall below ‘E’ would be unable to obtain leases. This would happen in 2023 when implementation is set to take effect. These measures are part of a wider governmental scheme to achieve carbon neutrality. According to the energy ratings, the lowest level is ‘G’ while an ‘A’ passes for highly efficient. This revelation places rooms that are not following these energy ratings face the possibility of losing utility. Such was the confirmation given by Andrew Burrel, an authority figure in the UK’s real estate sector.
Furthermore, only an estimate of twenty percent of work buildings in Central London have ratings of high ratings. Thus making over fifty-seven percent of the UK’s capital city workspaces fall into the lower and least efficient levels. This research result further plunges landlords into a dilemma as to if they should raise their buildings to reach the looming energy rules standards or to immediately improve to the futuristic 2030 legislation of building efficiency. The UK has drafted certain laws that would allow only buildings with the highest energy levels for official and production purposes.
Even with the plans of British office architects to achieve carbon neutrality in the following years, the new energy rules would demand that several refurbishments be undertaken. These refurbishments would however come with extra costs and expenses. Occupants are however presented with refurbishment options rather than a whole new building.
The option of retail spaces
Retail trading also experiences identical problems as the business of retail has undergone a major significant shift. This is credited to the recent pandemic which has resulted in the huge patronage of online stores.
Reports from government quarters showed that the volume of online purchases and expenditure is higher than in previous years before the pandemic. With this in view, there is a projection that about ten percent of retail outlets in the city would need upgrades.
The legislation on building efficiency also applies to retail spaces and as it stands, a large number of spaces fall below the expected standards. For such businesses to keep running, action has to be taken regarding the work environment. Therefore, upgrades would be necessary for them to stay relevant and become energy efficient. In conclusion, the energy efficiency rules pose a threat to work and retail spaces in the UK.