This blog from Savills is a neat, short summary of what to look out for in 2023 - investors, lenders, asset managers etc - it is well worth a read. Plenty to put on the radar, if not already. 

In 2023 we have, of course, already seen the publication of the Skidmore Review - plenty of good coverage in EG and React News. Yet for all the anticipation (see this previous blog), does it "grab the sector by the balls", as previously anticipated by Bim Afolami, chair of the All-Party Parliamentary Group for Renewable and Sustainable Energy and a member of parliament’s Business, Energy and Industrial Strategy Select Committee? Arguably not. Sam McClary makes some valid comments in her EG editorial, particularly on data, something "the government just doesn't want to legislate on". Surely some form of legislative stick is needed there? 

That said, on the note of looking forward in 2023, we have an existing legislative date on the immediate horizon. From 1 April 2023, it will be unlawful to let or continue to let non-domestic property with an EPC rating of F or G, unless an exemption applies or "relevant" energy efficiency improvements have been carried out. On acquisition of a property that is already let, an incoming purchaser cannot rely on the position of the outgoing landlord e.g. it must re-apply for an exemption. Is the industry ready? Arguably, the significance of the impending date has not yet hit home. 

And looking a little further down the line, "EPC B by 2030" seems all the more likely (not only in respect of let buildings, but also those owner-occupied). As the Skidmore Review recommends: Legislate by 2025 the minimum energy efficiency rating to EPC B for all non-domestic buildings, both rented and owned, by 2030. Legislate for EPC B rating for all new non-domestic buildings from 2025. This is clearly a trajectory that all building owners should take note of - particularly those letting buildings now on terms that span this timeline. Plus some see it as an investment opportunity...see here for example.