All Articles
News

TH Real Estate supports new ‘design for performance’ feasibility study

TH Real Estate is one of a number of leading industry players in the UK prime office market, supporting a new initiative, led by Verco, to undertake a feasibility study into a new solution for the ‘performance gap’ between design and operational energy performance.

The concept embraces the ‘design for performance’ approach pioneered in Australia, where developers and their teams sign up to – and then follow - a “Commitment Agreement” protocol to design, construct and manage new office buildings to agreed levels of actual in-use energy efficiency performance.  The buildings are certified using the NABERS scheme to verify lower running costs. This has transformed the market and research in 2011 found that a 5-star NABERS rating correlated with a 9% premium in property value, higher occupancy levels and higher rents*.  

TH Real Estate is one of several companies that is funding and overseeing the project, which is also supported by the Better Buildings Partnership and has the backing of DECC, BCO, BPF and UK-GBC.  

TH Real Estate manages over $3bn of office assets in Central London, with an investment portfolio extending to in excess of c.2.5 million sq ft (c.250,000 sq m), with the opportunity to almost double this through its development pipeline. Significant development projects include 40 Leadenhall Street and 70 St Mary Axe, which will transform London’s skyline.  

Geoff Harris, Head of Development for TH Real Estate said: “This initiative is aligned with our commitment to improve the sustainability performance of both existing assets and new development.  We are keen to understand how new prime offices in Australia are apparently achieving such high levels of energy performance and what aspects of their approach could potentially work in the UK market, and indeed our own portfolio.

*Australian Property Institute (2011). Building Better Returns: a Study of the Financial Performance of Green Office Buildings in Australia. http://www.api.org.au/folder/news/building-better-returns-research-report

Issued by Henderson Real Estate Asset Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Henderson Real Estate Asset Management Limited provides investment products and services.

Press Office

Kara Eigl, Senior PR Manager

+442037278438

Sophie Hinder-Walbank, Marketing & Communications Manager

+442037278251