Electronic Vehicle Charging Point (EVCP) Stations: an opportunity for the commercial property sector in Northern Ireland

Northern Ireland is making strides towards a more sustainable future by encouraging the adoption of electric vehicles. However, the lack of electric vehicle charging points in the region is becoming a significant barrier to their widespread uptake. As such, the need for electric vehicle charging points in Northern Ireland presents a unique opportunity for the commercial property sector in the region.

There are currently around 1,200 electric vehicles on the roads in Northern Ireland and this number is expected to increase rapidly in the coming years. However, despite the growing demand, the number of charging points available in Northern Ireland is relatively low. There are currently around 320 charging points across the region, with most of these located in urban areas. This lack of charging infrastructure is becoming a significant issue for electric vehicle drivers and is hindering the uptake in the region.

By investing in electric vehicle charging points, commercial property owners can not only help to address the issue of the lack of charging infrastructure in the region but also position themselves as leaders in sustainability. Offering electric vehicle charging points can be a significant draw for potential tenants, especially those with electric vehicles, and it can also help to future-proof their buildings.

The installation of electric vehicle charging points is relatively straightforward, and it can be done in a range of locations, including car parks, retail parks, and office buildings. By installing charging points in these locations, commercial property owners can tap into a growing market of electric vehicle drivers who are looking for convenient and accessible charging options. Moreover, by offering electric vehicle charging points, commercial property owners can generate additional revenue streams from charging fees, which can help to offset the cost of installation and maintenance.

The Northern Ireland government is also supporting the installation of electric vehicle charging points by offering grants to businesses and individuals who wish to install charging infrastructure. The government's Electric Vehicle Home charge Scheme provides up to £350 towards the cost of installing a home charging point, while the Workplace Charging Scheme provides up to £350 per charging point for eligible businesses.

The benefits of investing in electric vehicle charging points are clear, both from a sustainability perspective and a commercial perspective. Commercial property owners who invest in charging infrastructure can position themselves as leaders in sustainability, attract tenants with electric vehicles, and generate additional revenue streams. Moreover, with the Northern Ireland government offering grants to support the installation of charging points, the cost of investment is relatively low and the returns can be significant.

For more information on this topic please contact John Tougher, Partner or any member of the Belfast Real Estate Team.

Date published: 5 April 2023