Green offices in higher demand from tenants

Published on Thursday, 10 February 2011 11:02
Posted by Scott Buckler

More and more tenants are demanding that office buildings be energy efficient, research from PricewaterhouseCoopers (PwC) and the Urban Land Institute show

 

It analysed the views of 600 real estate experts and found that sustainability will be more marketable this year as inefficient office buildings will become far less popular.

The report stated that investors believed "green is the new standard" as tenants look for ways to lower their business carbon footprint and reduce the cost of energy bills.

However, the report also noted that green offices do not put any value on rents.

"Increasingly the investment decision is not based on environmental issues alone, it's become an economically rational choice for businesses, when you consider the returns from energy efficiency driven by the green agenda," commented Malcolm Preston, partner in sustainability and climate change at PwC.

According to figures from the Carbon Trust, keeping a computer and monitor on 24 hours a day can cost a business more than £50 a year in bills, but this can be cut to £15 by turning it off out of hours and enabling standby.

Source: ©EST

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