CBRE has launched a sustainability checklist aimed at establishing an evidentiary base allowing property valuers to directly correlate the impact of sustainable building attributes to the value of an asset.
CBRE has launched a sustainability checklist aimed at establishing an evidentiary base allowing property valuers to directly correlate the impact of sustainable building attributes to the value of an asset.
The new ViewPoint, named 'Valuing Sustainable Buildings', is based on the premise that the increasing adoption of sustainable practices has provided commercial returns, often in the form of reduced operating costs. Another established benefit is the greater marketability of the property concerned, particularly with regard to the public sector or in markets where there is oversupply.
To date, CBRE has not incorporated sustainability factors into its appraisal methodology due to the lack of direct evidence, and does not expect, in the short term, that a building's sustainability rating will lead to an automatic change in values. This must be evidence based and, to this end, the broker is creating a Sustainability Checklist which will be incorporated from now on into property valuations, covering a statistically significant universe of 15,000 commercial properties with a combined value in the region of £100 bn.
'The information gathered in our checklist, will enable the industry to map more precisely the relationship between an asset’s sustainable features and its value,' said John Symes-Thompson, senior director of Valuation and Advisory Services, UK. 'As this relationship becomes more quantifiable, the benefit for investors will be that they can prioritise the projects that offer the greatest impact for both the environment and their bottom line.'
