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NettZero is perfectly placed to assist all building owners ensure this new regulation will not have a negative impact on the value of the Property.
An import factor for many Commercial Building Owners is to first undertake their Benchmarking NABERS rating. They also need to establish if NABERS Rating can actually be performed on their Property.
Many B & C grade commercial properties do not have the best electricity metering and sub-metering arrangements in place to ensure the best result possible of their NABERS Rating.
NettZero offer a special service designed to assist Building Owners through their first NABERS Rating and help them understand how the rating system works and how to ensure they receive the best rating possible for their building.
Another important factor to remember is that a NABERS Rating requires a full 12 months of electricity data, this means that any changes you make to the building (or the metering arrangement)today will not be fully reflected in your NABERS Rating for an another 12 months or more.
Therefore, anyone with a property that must comply with the new regulation and is considering selling their property within the next 2-3 years should be benchmarking the property with a NABERS Rating now.
To find out more about our special Pre-Mandatory Disclosure Service, click here
More details about the scheme are listed below, or visit www.environmet.gov.au
National Strategy on Energy Efficiency
Australian, state and territory governments agreed to phase in the disclosure of commercial building energy efficiency through the National Strategy on Energy Efficiency announced in July 2009.
The disclosure scheme will happen in two phases:
The parameters for the implementation of phase one were agreed by governments in November 2009.
What difference will disclosure make?
Energy efficiency disclosure creates a more informed market that rewards better performing buildings and stimulates greater investment in energy efficiency.
Disclosure will:
More sustainable buildings can also deliver improvements to staff morale, productivity and help support green jobs.
Who needs to disclose?
Building owners need to meet the requirements of the scheme if they are selling or leasing office space with a net lettable area of 2000 square meters or more.
Tenants who are sub-leasing office space with a net lettable area of 2000 square metres or more will also need to comply.
New office buildings will be exempt from the scheme until they have sufficient energy use data to obtain a rating.
In the legislation, limited exemptions will also be granted in certain situations, for example where a valid energy efficiency rating cannot be obtained.
What will be disclosed?
In all cases, a building energy efficiency certificate will need to be disclosed. The certificate will generally include three components:
The specific components required will depend on the nature of the transaction and will be prescribed in legislation for the scheme.
If a building has inadequate metering to obtain a base building rating, a whole building rating will be required.
For office buildings that have been substantially refurbished within the previous 12 months, the scheme will allow the star rating to be modeled in accordance with the NABERS Energy simulation protocol.
For sub-leases, the NABERS Energy star rating will only need to be disclosed if an existing rating is available to the tenant who is sub-letting office space.
Building energy efficiency certificates will remain valid for 12 months.
When will disclosure occur?
When office space is advertised for sale or lease, a NABERS Energy star rating must be included in the advertisement.
When prospective buyers or tenants enquire about office space, they must be provided with a valid building energy efficiency certificate as early as possible in the process, free of charge, whether requested or not.
Prospective buyers or tenants will also be able to access the certificate on an online registry using a unique reference number.
Will ratings be publicly available?
NABERS Energy star ratings will be publicly accessible on the online registry via a searchable database. However, to access a full building energy efficiency certificate on the registry, you will need a unique reference number.
Are there any penalties?
Compliance and enforcement details will be specified in the legislation. Possible enforcement provisions could include:
When will the scheme commence?
Commonwealth legislation is now being developed to give effect to the scheme in the second half of 2010, with a final commencement date dependant on the passage of the legislation through Parliament.
How can NettZero help you?
NettZero are the NABERS OFFICE rating specialists and will provide a cost effective way of rating your portfolio and keeping your Star ratings current.