Major change to the Commercial Building Disclosure Program is fast approaching on 1st July 2017
Following the announcement made by the Australian Government last year, the mandatory disclosure threshold on commercial office buildings will reduce from 2000 square metres to 1000 square metres starting the 1st July 2017.
From 1st July 2017, this expansion of the CBD program will require most sellers and lessors of office space of 1000 square metres or more to obtain a Building Energy Efficiency Certificate (BEEC) before the building goes on the market for sale, lease or sublease.
BEECs include a Part 1 – the building’s National Australian Built Environment Rating System (NABERS) Energy for offices star rating which is valid for 1 year, and a Part 2 – Tenancy Lighting Assessment (TLA) of the relevant area of the building which is now valid for 5 years (since September 2016).
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Developing Property to be Operations Ready
The origins of ‘Operations Ready’ go back in time and relate to the military being ready to engage.
Property companies are turning to military like tactics to ensure property developments achieve the best possible performance at completion – and are mission ready for operations.
Whether property companies develop their own property or portfolios, procure by contracting or through property acquisitions, they tell us of the challenges of navigating handover – through transition from construction to ‘taking ownership’ of the property – and the ongoing management requirements. Continue reading
