Sustainability now highest priority for Yorkshire office sector
PallMallAn increasing number of commercial property professionals
believe sustainability is the key issue facing office space in the
Yorkshire area over the next decade.
As part of the Offices 2020 report by Jones Lang LaSalle, it was
said Yorkshire's office space was
beginning to benefit from new UK legislation aimed at encouraging
best-practice sustainability that has worked successfully in
neighbouring France and Germany.
Jeff Pearey, head of Jones Lang LaSalle in West Yorkshire,
believes commercial property owners across the county are now
appreciating the value of sustainable workspace.
He said: "Sustainability was once seen as a soft issue on the
periphery of business strategy, but this has now changed. We now
have case studies where sustainable changes to buildings have
improved employee productivity.
"Owners and developers of office stock in Yorkshire will need to
take rapid action to protect the value of their buildings and
prevent them becoming obsolete.
"A sustainable building will quite quickly become a prerequisite
for prime property. Consequently, we expect the pricing gap to
widen between sustainable and non-sustainable assets during the
next few years."
The implementation of the UK's 2011 Energy Act will also enforce
commercial property owners in Yorkshire and Humber to improve the
energy efficiency of their workspace.
An estimated 63 per cent of UK stock, including premises in
Yorkshire, has an Energy Performance Certificate rating lower than
grade E. From April 2018 landlords will be unable to let out
business premises to tenants without an Energy Performance
Certificate rating higher than grade E.
Bill Page, Jones Lang LaSalle director, who leads the Offices
2020 research programme, added: "From almost nowhere a decade ago,
sustainability is now a key consideration for office real estate in
Yorkshire and Humber region as with the rest of the UK.
"While environmental charge, cost control and ethical business
practices are all part of the equation, legislation is the real
game-changer forcing the region's occupiers and investors to adapt
their office buildings."
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