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    • CommentAuthortony
    • CommentTimeNov 13th 2016
     
    How did M&S manage to install so much solar PV before the big reductions in feed in tariffs?

    So many problems to overcome, shortage of time, government changes, dealing with ofgem, network operators and contractors.

    Worst of all arrangements with building owners leases and licence agreements, even getting this through in house governance has proved impossible for others.

    GOOD MANAGEMENT AND A WILLINGNESS TO ACT WON THE DAY -- VERY WELL DONE M&S


    Where were the rest of us?
    •  
      CommentAuthorfostertom
    • CommentTimeNov 13th 2016
     
    Is this on their own buildings, or as Green Deal or whatever agents on customer's buildings?
  1.  
    • CommentAuthorringi
    • CommentTimeNov 13th 2016
     
    It does not help that under a standard UK commercial lease, the “rent” is reviewed every 5 years (and can only be increased) based on what the property would lease for at that point. Therefore if the leaseholder improves the property by fitting PV for example, their rent goes up at the next reviews, so as to wipe out any benefits form the PV.
    • CommentAuthorCWatters
    • CommentTimeNov 13th 2016
     
    Yes well done M&S but perhaps they shouldn't have taken their eye of their clothing department.
  2.  
    Posted By: ringiIt does not help that under a standard UK commercial lease, the “rent” is reviewed every 5 years (and can only be increased) based on what the property would lease for at that point. Therefore if the leaseholder improves the property by fitting PV for example, their rent goes up at the next reviews, so as to wipe out any benefits form the PV.

    Not so! - Yes the rent will be reviewed typically every 5 years (lease terms dependent) but 'tenants improvements' are discounted for (I think) 20 years, after which the improvements become part of the fabric and are included as part of the landlords property.

    But anyway would PV be classed as the tenants moveable property and as such the tenant could take the PV with them when/if they left, or does PV on the roof become part of the fixture and fittings?
    •  
      CommentAuthordjh
    • CommentTimeNov 13th 2016 edited
     
    Posted By: Peter_in_HungaryBut anyway would PV be classed as the tenants moveable property and as such the tenant could take the PV with them when/if they left, or does PV on the roof become part of the fixture and fittings?

    I thought that anything bolted down is a fixture?

    edit: Maybe panels on a flat roof that are only attached to paving slabs that are resting on the roof would be classed as movable, especially if there was a plug and socket in the electrical connection.
    • CommentAuthorringi
    • CommentTimeNov 13th 2016
     
    Its complex enough that most lease holder would not consider PV unless they had lots of properties and their own legal department.
  3.  
    To help clarify this. There is no way M&S could have seen this coming, as they started years ago though the first round of cuts from 44p/kwh etc would be a telltale. Also

    1 - M&S traditionally operates from freehold or long-leasehold premises. eg Of the current stores slated for disposal, 2/3 are in this category. That will negate worries about long term investment, as the term of FiTs is 20-25 years.
    http://news.sky.com/story/marks-spencer-to-axe-dozens-of-high-street-stores-in-rowe-revamp-10644351

    2 - Example of their new distribution centre at Castle Donington. That is on a lease until 2038 ish, so that covers the 20 year FiT period. Interestingly they spent 200m ukp fitting it out compared to a build cost of 75m.

    The solar panel costs for 25000 panels would be something like 6-8m (?) ie small beer, and that is owned by a provider with M&S having a long-term contract to buy all the electricity.

    3 - The rent reviews on the distribution centre are cap-and-collared at 2.5 and 1.5% upward only. Not sure whether raise that is every 5 years or cumulative annual increases.

    There are links aplenty for (2) but I am not posting a whole list.

    Ferdinand
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