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The impact of sustainability on value


EPC performance


In addition to BREEAM, we have also looked at whether energy efficient assets perform better in the market - as it’s often an important criteria for occupiers. To understand this, we have used EPCs as a proxy for operating efficiency, albeit recognising that they are more indicative of how energy efficient the assets design is rather than its operational efficiency.6


Between 2008-2011, while numbers were increasing year-on-year, there were fewer than 100 transactions with an EPC rating and, as with BREEAM ratings, we have concentrated analysis on deals from 2012.


An A+ rating


can be seen in a handful of examples of offices around the country, demonstrating the low base that the industry is starting from to achieve its bold ambitions. In fact, EPC A+ reportedly make up less than 0.1% of the entire built stock within England and Wales, and there are none located in central London.


Overview of EPC ratings certified by year in central London 100%


10% 20% 30% 40% 50% 60% 70% 80% 90%


0% 2008 2009 2010 2011 A 2012 B Source: Ministry of Housing, Communities & Local Government C 2013 D E 2014 F 2015 G 2016 2017 2018 2019


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