From 1 July 2017, the threshold for the compulsory Commercial Building Disclosure (CBD) of an office building’s energy efficiency will reduce from 2,000m2 to 1,000m2.
The legislation, which commenced in 2010, requires most owners of office buildings to have a current building energy efficiency certificate (BEEC) before offering to sell or lease their property.
The disclosure obligations currently only apply to sales or leases of 2,000m2 or more of net lettable area of office space. However, from 1 July 2017, the regime will expand significantly to capture sales and leases of 1,000m2 of net lettable area of office space. The disclosure requirements also apply to subleases.
The seller or landlord must also:
Some buildings are exempt, for example:
The BEEC must be included on the building energy efficiency register.
Significant penalties apply for not complying, which can accrue for each day of non-compliance.