Changes to the Commercial Building Disclosure program. 

The Commercial Building Disclosure (CBD) program requires the collection and disclosure of energy efficiency information at the point of lease or sale. The goal of this program is to inform purchasers and tenants of the efficiency and therefore, running cost of large office buildings before they move in.

This program has been effective in delivering benefits to both tenants and building owners. For tenants, not only does it save on running costs by reducing energy bills but it also delivers a more comfortable work environment for occupants. This is turn leads to greater productivity and improved staff wellbeing.

The CBD program allows building owners and managers to improve the marketability and returns of their asset. This gives a competitive advantage to more efficient buildings which are easier to lease and sell. The market has demonstrated that efficient buildings with lower energy bills also fetch higher lease rates, leading to increased returns for owners.  Improving the efficiency of our large office buildings will also make achieving our greenhouse gas emissions reduction targets more attainable and mitigate the effects of climate change.

Changes are being made to the program to increase its effectiveness. From 1 July, this year, the mandatory disclosure threshold on commercial office space will be lowered from 2000 square metres to 1000 square metres. Owners and lessors of smaller commercial office buildings may need to disclose the building’s energy efficiency when they sell or lease their property after this date.

The Property Council will be holding an exclusive member briefing on these changes on 3 May 2017. This will be a chance for industry professionals involved in the sale and lease of commercial office space to hear from the scheme administrators and industry experts how to prepare for the changes. Please follow this link to express your interest in attending (tickets are subject to availability).