Video: Commercial Building Disclosure Program Explained
The CBD Program requires most sellers, lessors and agents of office space of 1000 square metres and above to obtain a Building Energy Efficiency Certificate (BEEC) before the building goes on the market for sale, lease or sublease. The NABERS energy star rating must also be displayed on all forms of advertising. The aim is to improve the energy efficiency of Australia's large office buildings and to ensure prospective buyers and tenants are informed of the building’s energy efficiency performance when making decisions.
If you, or your client’s, office space is over 1,000 square metres you may need a Building Energy Efficiency Certificate (or BEEC) before offering it for sale, lease or sublease. The Australian Government, through its Commercial Building Disclosure (or CBD) program requires building owners, lessors and agents to disclose their building’s energy efficiency to prospective buyers and tenants.
Mandatory disclosure gives potential buyers and tenants information to help them compare the energy efficiency of properties on the market when making decisions. Energy efficient buildings produce fewer emissions, cost less to run and, help protect our environment.
Research shows that energy efficient buildings also do better in the marketplace. Not all buildings are affected so you’ll need a CBD accredited assessor to find out if your building needs to comply.
A BEEC is a comprehensive statement of a building’s energy efficiency and consists of a NABERS Energy star rating and a Tenancy Lighting Assessment. While disclosure affected commercial buildings aren’t legally required to achieve a minimum energy efficiency rating, they must have a BEEC certificate before advertising and the NABERS star rating must be displayed on all advertising.
To avoid potentially heavy penalties for non-compliance, get a CBD Assessor’s advice about your, or your client’s, office space or commercial building. To find an assessor, check the list on the CBD website. For more information visit: cbd.gov.au