Sustainable development is here to stay
The trend towards sustainable development and fit-out is unlikely to be reversed because of the tough conditions in the commercial property market.
That was the message from the panellists at Insider’s Sustainable Workplace forum held at the Fore building in Solihull yesterday morning (28 June).
Professor Mark Gaterell, professor of sustainable construction in the department of the built environment at Coventry University, told the 60-strong audience that it is a myth that going green is a more expensive property solution.
"Most of this stuff makes good economic sense, The idea that a building that performs well has to cost a lot more in capital terms isn’t necessarily true. It isn’t just about altruism. You can deliver on the bottom line as long as you are measuring things in the right way," he said.
Adrian Southall, managing director of KWB Workplace, admitted sustainable buildings are not yet necessarily commanding an increase in rental value.
"But as time moves on and legislation increases it is becoming more desirable for tenants to take occupancy of a building that has green credentials rather than one that does not," he said.
Martin Hill, a development director at BAM Properties, concurred. He said: "We have a policy of developing the most sustainable buildings we can produce. When larger corporates come along they more than likely have a CSR policy which we would hope would help us to do a deal with them. And in the investment market a building that is effectively future proof will certainly maintain its value."
