British companies are losing £20 billion a year on excessive energy bills caused by poor maintenance, a new report claims.
In the study – conducted by facilities management consultants Nickleby – UK property directors estimated more than a third of their energy bills were wasted as a direct result of inferior property maintenance.
Overall, 70 per cent of directors believed their commercial property was in poor condition. More than half of these have blamed chronic underinvestment in Britain ’s crumbling commercial infrastructure.
Nickleby director Jonathan Holley said businesses were suffering because they “fail to prioritise their greatest assets”.
He added: “Property maintenance is a hugely neglected area, with many companies taking a short-term approach to a long-term investment.”
In the report one fifth of maintenance contractors said their customers’ maintenance spend was wasted. This was estimated at a value of £1.1 billion a year.
Participants also predicted that UK business could achieve a 39 per cent increase in staff productivity with better-maintained properties – equivalent to £261 billion annually.