Sustainability is one of the biggest drivers of innovation in today’s economy – and the commercial property sector is no exception.
As tenants demand green-friendly office spaces, building owners are embracing sustainable designs that lower monthly costs and reduce the building’s carbon footprint. For commercial property owners, sustainability is more than a trend – it’s a glimpse into the future.
“Greening” the economy – and solving SA’s resource shortages
With cities around the world growing fast as development spreads to almost every corner of the globe, resources are scarcer than ever.
Building materials, water and electricity will need to be produced, consumed and recycled efficiently to support the planet’s growing population. Nobody is more aware of that than residents of the Western Cape.
The recent drought, which brought water rationing in its wake, as well as the decade-long Eskom crisis with its annual electricity tariff increases, have inspired property owners and tenants to take action.
Green star ratings determine desirability with today’s tenants
Commercial buildings that feature independent power generation (through solar energy systems) and smart water recycling, are becoming increasingly popular with tenants – especially the younger generation of startup owners.
Lower monthly utility bills are good for every company’s bottom line. At the same time, environmental stewardship is an essential part of prominent brands, from SMEs to large corporates.
Location remains an important factor in a commercial building’s desirability. Environmental prestige (typically Green Star status) is fast becoming a major selling point with prospective buyers, tenants and property fund managers alike.
Bringing older buildings into the green picture
While Green Star ratings are typically given to new developments, it’s still possible for older buildings to shed their large carbon footprints and remain desirable.
- Solar power systems and geysers can be retrofitted to some older buildings, as long as the building’s structure can accommodate them safely.
- Energy-efficient lighting, air conditioning and office equipment can be fitted to almost all older buildings, reducing monthly consumption and utility bills.
- Some older buildings in up-and-coming areas can be renovated and re-purposed using green designs, giving them a new lease on life.
If you’re in the market to buy or rent sustainable office space in the greater Cape Town area, contact us today. Our team is on hand to answer any queries you may have and introduce you to our portfolio of world-class commercial properties.