Can solar panels increase the value of commercial property?
A report released this week has stated that solar panels have the potential to increase the value of commercial property.
A study by JLL has revealed that solar power adds value to commercial property and that demand is growing for these types of property.
Commenting on the report, Chris Strathon, Director in Valuation at JLL, said: “We believe rooftop solar commercial property adds value by improving the marketability of a property to occupiers who are driven by cost or CSR objectives and additional income, which is received via power purchase agreements and government backed tariffs.”
This week Marks and Spencer’s announced they had started work on the largest commercial rooftop solar power system in the UK at their East Midlands Distribution Centre, joining the likes of Sainsbury’s, BT and BMW in investing in solar power.
The benefits of utilising solar power include increasing the income for landlords, reducing the energy costs for tenants, government benefits and the overall contribution towards long-term sustainability.
Many industrial properties are ideal for solar power, due to the large amount of roof space on offer, and SEGRO, who list with NovaLoca, have already implemented solar power on a number of their industrial units.
As part of the country’s focus on reducing carbon emissions and increasing sustainability, it’s hard to argue with the long-term benefits and solar panels may soon become the new must have for commercial property across the UK.
You can view all of JLL’s properties listed on NovaLoca here, or alternatively search thousands of available commercial property for sale and to let across the UK.