News & Updates

COP26 and the Commercial Property Sector in Scotland

Michael Dewar

Published byMichael Dewar

28th October 2021

COP26 and the Commercial Property Sector in Scotland

COP26, getting underway in Glasgow this week, demonstrates that climate change has never been higher on the political agenda. Already the Scottish Government has committed to becoming a net-zero society by 2045 and the COP26 conference is likely to lead to a further ramping up of climate change measures with a real impact on how businesses around the world operate.

What can we expect all of those changes to mean for the commercial property sector, specifically in Scotland?

Recently we ran a webinar in which we explored such questions. The changes are likely to be far reaching, including:
• more stringent energy efficiency measures to be met by owners of commercial properties when selling or leasing – the Energy Efficient Scotland Route Map has already set out proposals to require significant improvements to non-domestic properties to the extent that this is technically feasible by 2040;
• continuing high energy demands means supplementing grid power with on-site generation of power for the industrial sector; and
• knock-on effects to commercial leases, including rent reviews, reinstatement obligations and alterations.

Given that most people involved in commercial property, whether investors, landlords or tenants, make decisions involving property for the long term, the topics covered in these videos are highly relevant. If you would like a copy of any of these videos, please email mpnh@wjm.co.uk

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