July 19, 2023
A new poll of 250 office landlords from infinitSpace and Instant Group claims to have identified the most widely used energy saving measures at their properties. The study set out to identify which energy-saving measures are the most widely used and which landlords are prioritising in the years ahead as ambitions for a net-zero commercial real estate sector become increasingly focused.
The most prevalent measure already in place is setting waste management targets, with close to a third of landlords (31 percent) already implementing them across their portfolios. A further 64 percent plan to set targets in future, also making it the most attractive measure over the long term.
At joint-second were flex space and thermal efficiency measures (other than double glazing), with a quarter (25 percent) of landlords having already implemented these.
The report also claims that office landlords are increasingly turning to flexible workspace with 67 percent planning to implement an element of flex space in the future. This comes as demand for flexible workspace is rising globally, with the pandemic and high inflation accelerating this trend. The value of the global flexible workspace market is expected to grow from $33.23 billion in 2020 to $73.03 billion by 2026.
Meanwhile, less than a quarter of landlords currently have high efficiency/LED lighting (23 percent), sensor/timer-controlled lighting (23 percent) and double glazing (24 percent) in place, making them amongst the least adopted measures.
The rise in energy prices across the UK has played a significant role in accelerating demand for these measures, with 55 percent of landlords agreeing that it has incentivised them to improve the energy efficiency of their buildings. Meanwhile, external pressures have also been present with the UK government requiring a minimum EPC rating of E as of April 2023.
In what the report says is a sign of landlords’ long-term commitment to sustainability and energy efficiency, over 90 percent of landlords plan to adopt measures over the long term. However, double glazing stood noticeably behind the rest, with just 58 percent of landlords planning to make the change in future.
The full list of energy-efficient measures landlords are implementing and plan to implement:
• 31 percent of landlords have already set waste management targets while 64 percent plan to (95 percent overall)
• 25 percent of landlords have already adopted thermal efficiency measures other than double glazing while 67 percent plan to (92 percent overall)
• 25 percent have already converted parts of traditional workspace into flex space while 66 percent plan to (91 percent overall)
• 23 percent of landlords have already adopted sensor-controlled/timed lighting while 64 percent plan to (87 percent overall)
• 23 percent of landlords have already adopted LED/high-efficiency lighting while 74 percent plan to (97 percent overall)
• 24 percent of landlords have already adopted double glazing while 58 percent plan to (82 percent overall)