Green Buildings Draw Premium Rent
January 31, 2009
In a major survey of over 800 construction and property professionals from the law firm of Taylor Wessing, results showed that despite the slumping economy, green properties are still in high demand. Helen Garthwaite, head of construction and engineering at Taylor Wessing, said that there was a wide industry consensus that developers investing in greener commercial buildings could generate higher returns by charging premium rates.
“Top level corporates now have policies demanding that their buildings are sustainable and at the moment, the demand for those buildings is outstripping the supply,” she said.
The survey, which polled architects, construction firms, property managers and tenants, was conducted last October amid concerns that the industry’s green ambitions had succumb to the economic downturn. Since October, faith in the green movement has been restored, largely due to the agendas of President Barack Obama and British Prime Minister Gordon Brown. Both leaders are adamant that green collar construction jobs will play a key role in their upcoming economic stimulus packages.
Source: businessgreen.com
