by Brianna Crandall — July 24, 2013—Based on annual operational data collated from some of the U.K.’s largest commercial REITS (real estate investment trusts) and institutional investors, global financial and professional services firm Jones Lang LaSalle and the Better Buildings Partnership (BBP) have published their first Real Estate Environmental Benchmark. The publication is intended to provide valuable data for British property owners, occupiers and managers on often-overlooked energy, water and waste costs, as well as use.
By assessing nearly 500 U.K. offices and shopping centers, the Real Estate Environmental Benchmark shows that a typical air-conditioned U.K. office costs £3 per sq. ft. in energy use, but this can vary considerably depending on how well a building is managed. Offices in the lower quartile of the Benchmark, with poorer energy management, are spending as much as £225,000 per annum whereas offices in the top quartile, that manage energy well, have far lower running costs, around 50% less, at £125,000 per year. The potential for cost savings for owners and occupiers who demonstrate good energy management practice is therefore clear.
The new report can help identify buildings where there are opportunities to reduce running costs, and can be used to compare the performance of buildings against others in a portfolio, and the industry. It is also a useful communication tool to demonstrate lower running costs and better energy management to key stakeholders such as tenants.
In addition, the new data illustrates the environmental impact of buildings. It shows that a typical shopping center (approximately 200,000 sq. ft. net lettable area [NLA]) has a carbon footprint of 1,200 tons of CO2, whereas those in the lower quartile have footprints as much as 2,400 tons of CO2, the equivalent of 750 households.
The two research groups say that the Real Estate Environmental Benchmark is the first published benchmark to include data on water and waste (as well as energy and carbon), thereby providing users with a far more comprehensive understanding of their building’s environmental performance and enabling them to set targets for improvement and communicate progress.
