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Property Law – CBD Changes

Property Law – Background

The Commercial Building Disclosure (CBD) Program is a regulatory program that requires the mandatory disclosure of a building’s energy efficiency information to the market when commercial office space above a certain size is offered for sale or lease.

The CBD Program is an initiative of the Council of Australian Governments (COAG). It was established by the Building Energy Efficiency Disclosure Act 2010 and is managed by the Australian Government Department of the Environment and Energy.

Changes Made

In essence:

  • from 1 July 2017 the mandatory disclosure threshold on commercial office space will decrease from 2000 square metres to 1000 square metres
  • this means owners and landlords of smaller commercial office buildings may need to disclose the building’s energy efficiency when they sell or lease their property after this date

Tips

Our Matthews Folbigg Property Law team recommends building owners/landlords, tenants who sub-lease and real estate agents:

  • review these property law changes
  • seek the assistance of a property lawyer to understand the impacts of these property law changes
  • Continue reading…