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Building Energy Efficiency Disclosure - OCT10
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BUILDING ENERGY EFFICIENCY DISCLOSURE
Attention property owners and agents acting on behalf of property owners.
If you sell, lease or sublease commercial office premises with a net lettable area of 2,000 square metres or more1, it is important to consider the impact of the Building Energy Efficiency Disclosure Act 2010 (Cth) (the Act).
The Act places obligations on owners and landlords of commercial office space in excess of 2,000 square metres to disclose energy efficiency information to purchasers and tenants.
The Act has been introduced as part of the Federal Government’s national strategy on energy efficiency. Landlords will be required to disclose certain information as required under the National Australian Built Environment Rating System (NABERS).
Application – Who is Affected
The Act applies to buildings which have a net lettable area of 2,000 square metres or more, and where the building comprises commercial office premises.
The Act will apply to owners, landlords and sublessors who engage in the sale, lease or sublease of the abovementioned premises.
The Act will also apply to Agreements for Lease and put and call options.
The Act will not apply to short term leases and subleases (12 months or less).
1 Although the current minimum area is 2000 sq metres, the government has indicated that it is highly possible that in the future this area will be reduced so the Act will apply to more buildings.
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