Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Car showrooms could be consigned to history as energy costs bite

by September 26, 2022
September 26, 2022
Car showrooms could be consigned to history as energy costs bite

Two thirds of motor dealership showrooms are among the least energy-efficient workplaces and face debilitating lighting, heating and air quality bills this winter.

Investors increasingly shun businesses with the worst EPC, or energy performance certificate, ratings. The property consultancy Rapleys reckons that 3,000 of the country’s 4,500 dealership showrooms come with the worst ratings of E, F or G.

“Dealerships are typically large properties with extensive glazing requiring huge amounts of lighting, heating and compressed air,” it said. Soaring bills are not the only issue. “Come 2025, all assets must be E grade or higher to be able to be leased or transacted but there are reports that some lenders are already ignoring anything less than a B grade EPC in order to future-proof their portfolios and protect values.”

Rapleys added: “Now, with the focus on electric vehicles, traditional structures are struggling to support charging points on their existing supply, let alone the rising costs of energy.” Lee Fraine, head of sustainable buildings at Rapleys, said: “Typically car dealerships have always focused most of their investment in the brand and aesthetics of their showrooms. Now the race is on to retrofit in order to support both the future and value of these businesses.”

The big dealership chains are already struggling to grapple with the issues. Vertu, the listed Bristol Street Motors group, has warned that it would be reaching for the “off” switch, or at least the dimmer control, and start investing in solar panels. It told investors its fixed-rate energy contract expires at the end of this month. “There will consequently be an increase in the group’s cost of energy in the second half of the financial year,” Vertu said.

“An energy purchasing strategy has been developed, which includes sourcing off-grid energy solutions in order to manage the group’s exposure to energy market price volatility risks.”

Read more:
Car showrooms could be consigned to history as energy costs bite

0
FacebookTwitterGoogle +Pinterest
previous post
David Beckham-backed esports firm signs big sponsorship deal with Sky
next post
Pound falls to record low against dollar

You may also like

How to Choose the Right SEO Agency for...

February 23, 2023

Rail strikes cost UK £1bn and settling would...

January 19, 2023

Crisis communications in the modern era: How dealing...

April 3, 2023

 6 Types of videos which are useful for...

December 30, 2022

Around 100,000 civil servants to go on strike...

January 12, 2023

UKEF support helps UK boat manufacturer charter new...

June 13, 2023

Small business champion Good Business Pays appoints Wilfred...

April 17, 2023

Prospect of insolvency for UK businesses set to...

June 27, 2023

Bank of England could be forced to raise...

February 7, 2023

Royal Mail blames strike action for slumping to...

May 18, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • European diplomats urge Iran to continue US nuclear talks in first face-to-face since strikes started

      June 20, 2025
    • As Iran talks get underway, expert raises alarm over lack of plan to secure nuclear material

      June 20, 2025
    • Spending and Debt in the OECD

      June 20, 2025
    • Four plead guilty in massive bribery scheme at agency Democrats fought to protect from DOGE

      June 20, 2025
    • RRG Alert Tech Vaults to ‘Leading’—Is XLK Signaling a New Rally?

      June 20, 2025
    • Does ICE Mask Its Agents to Protect Them from Targeted Violence?

      June 20, 2025

    Categories

    • Business (8,275)
    • Investing (2,057)
    • Politics (15,719)
    • Stocks (3,158)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved