Growing Support from Businesses for ‘Green office leases’
A new type of conventional office lease known as the ‘green lease’ is beginning to grow in popularity as increasing numbers of UK businesses and landlords wake up to the benefits of going green.
“Although still very much in their infancy and potentially contentious, the support for green leases from landlords and tenants is growing,” said David Cowgill, real estate solicitor at law firm DWF.
The ‘green lease’ has been introduced alongside the conventional office lease, and commits both the landlord and the tenant to work together to reduce the carbon footprint of the property. As well as reducing harmful emissions, the outcome is also designed to reduce costs through more sustainable methods.
“The UK property industry is pushing for them to become the norm and it is only a matter of time before the green lease will become the accepted form of lease recognised by both landlords and tenants,” said David, according to TheBusinessDesk.
While this scheme is currently based largely on conventional office leases, the serviced office industry could also benefit where property owners have long-term lease agreements, and wish to enter into a more sustainable solution with their landlord.
In addition, many serviced business centres have implemented their own green schemes and are working to fine-tune these as part of on-going developments.
officebroker.com’s Business Centre of the Month winner for July is a prime example. The centre, located on Lloyds Avenue in the City of London, has secure bicycle storage and showers to encourage visitors and staff to cycle to the office, sustainable bamboo decking on the outside terrace, and individual temperature-controlled offices to help reduce energy wastage.
A couple of miles away from Lloyds Avenue is Kirby Street (pictured), the location of another centre that has been redeveloped to become highly sustainable. This property boasts a green roof, solar heating panels, rainwater harvesting, water conservation, a wind turbine, sensor lighting, and recycled materials such as flooring made from car tyres.
David ends on a cautious note by claiming that the cost of ‘greening’ a building can be high, but believes that there are “numerous advantages” in going down the sustainable route through schemes such as green leases or via “other informal arrangements.”