Almost half of UK office landlords believe the office market is falling behind on environmental policies
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Loading... - Sarah Wilson
- 16 Mar 2023
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New partnership research between infinitSpace and Instant Group exploring the state of sustainability within the UK office market, has revealed that the office market is falling behind on environmental policies.
Key findings from the research include:
- Almost half (47 per cent) of landlords believe the office market is lagging behind other areas of the property sector in implementing/adopting environmental policies
- The same number say they can’t ‘go it alone’ with 47 per cent of landlords agreeing they need help in shaping environmental policies
- Meanwhile, 84 per cent of landlords report a vacancy rate of 30% per cent and above as average among their office building portfolio
These insights, which come from a survey of 250 commercial landlords with offices in the UK, are the first to come from a new research partnership between infinitSpace, the creator of white-label, tech-enabled, flexible workspaces, and Instant Group, a global marketplace for flexible workspace solutions.
Conducted independently by Censuswide, the research highlighted a significant knowledge gap in the capabilities of office landlords to shape environmental policies with almost half agreeing that they need help. It also uncovered a pervasive belief that the workspace market is moving too slowly in implementing and adopting environmental policies with 47 per cent of landlords believing the office market is lagging behind other areas of the property sector compared to 20 per cent who do not.
The findings also revealed the poor state of occupancy across UK offices, itself a major factor in the overall energy efficiency of a commercial building, as 84 per cent of landlords reported occupancy as less than 70 per cent and 53 per cent said their offices were half-empty or less.
With all 250 landlords asked to identify the current adoption of sustainability policies in place across their office portfolio, the research uncovered a correlation between occupancy and level of sustainable practice. Of those with the most robust set of suitability policies, 56 per cent had offices with an occupancy greater than 70 per cent.
Wybo Wijnbergen, CEO of infinitSpace, said: “As a sector, the office market is a large emitter of carbon and its transition to net zero will be essential in reaching the sustainable future the planet so desperately needs. But success will be dependent upon understanding and mitigating the challenges landlords face in improving the operations of their buildings. The research partnership we have unveiled today will go a long way to shedding a light on these challenges and where the sector must act. Expect much more to come, the first few results we have released today barely scratch the surface. The real estate sector can play a significant role in safeguarding the future of our planet – now is the time to execute.” Read More…
