green leases in Scotland
Green leases are standard commercial leases with added environmental measures to promote energy efficiency and low carbon emissions. There is no single type of green lease but instead shades of green to suit individual owners and tenants. It is fair to say that green leases are not widespread in the commercial property market at present but their numbers are likely to increase over the next five to ten years.
There are, arguably, sound business reasons why both landlords and tenants should think of adopting green leases:
- energy efficient measures can allow tenants to save significantly on costs
- energy efficient measures can benefit owners by protecting the underlying investment value of commercial properties
- tenants may find it easier to assign or sub-let a “green lease” than an ordinary commercial lease
For an explanation of the factors likely to lead to an increase in green leases, click here.
For further information on the legal workings of green leases, click here.