Environmental Awareness Hits Occupier Market
Environmental awareness has hit the occupier market and is changing the demands of office occupiers, particularly at the higher end of the market where occupiers of Grade A premises look for nothing less than the latest specification. Legislation such as the EU’s Energy Performance of Buildings Directive (EPBD) and Energy Performance Certificates (EPCs) has placed more emphasis than ever on environmental issues and it goes hand in hand with helping businesses to score highly in the social responsibility stakes.
Major developers recognise this trend and are creating buildings which help their prospective tenants in meeting their CSR agenda. It is not only ideological thinking which has aided the changing attitudes of occupiers. As ever, money talks, and with developers able to demonstrate reduced operating costs within ‘green’ buildings, occupiers are able to operate with increased efficiency, further cementing the business case to pursue environmentally friendly premises.
Many of the UK’s new buildings have incorporated initiatives such as upgraded insulation, rainwater harvesting and heat recovery plant to achieve an excellent BREEAM rating, an assessment of the environmental impact of a building throughout its life. This ‘future proofing’ is also within the developer’s social responsibility agenda but it is ultimately the occupier of the building who will reap the rewards with lower operating costs.
Occupiers are looking to the property industry to lead the way and more progress is needed. A recent British Council for Offices report ‘UK Occupier Satisfaction Index 2007’ found that more than one in two occupiers think that the property industry has made poor progress in environmental initiatives. Developers who embrace such initiatives can only enhance their position when attracting occupiers to their properties, and with the ever increasing profile of environmental issues, they can expect to see environmental sustainability becoming a key factor in occupiers’ choice of premises for their business.
For further information contact iain.taylor@ryden.co.uk
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