Written by Rebecca Pearce
EMEA Head of Sustainability, CBRE
It was recently announced that CBRE has has been selected by the BCSC (British Council of Shopping Centres) to analyse the economic impact of sustainability measures on the value of shopping centres in the UK.
The project is the first of its kind, and the subsequent research will be used to raise awareness of sustainability measures and the positive impact they can have on rents and yields for occupiers and owners of shopping centres.
Increasing costs and regulatory requirements, coupled with retail buildings being the single biggest contributor to CO2 emissions in the UK commercial property sector, means that this research project will be invaluable to both CBRE and the wider commercial real estate community.
Davinder Jhamat, Head of Research and Education, at BCSC, added:
“To fully understand the macro outlook and promote action, research is crucial. To date, such research has focused on other commercial property asset types namely offices. With this in mind, we were keen to extend this to cover shopping centre operators and associated stakeholders. We very much look forward to working with CBRE on this sector-leading project.”