The Growing Importance of Low Carbon [Net Zero] Offices

Coming from 11 years at JLL it would be remiss of me not to give them a mention in my first official blog for Kingly Partners. In October 2023 JLL reported* that cities globally faced a chronic undersupply of net zero carbon space. In London they established this undersupply to be as high as 140%** based on the increasing number of occupiers setting science-based targets. The economic fundamentals of this suggest net zero space will therefore outperform its competitors and improve value and liquidity of office space.

What does net zero mean for office owners? It means efficient building services: taking a fabric-first approach to ensure thermal and acoustic performance is maximised, installing low energy and heat-exchange systems. Onsite renewables are one option but are less efficient in heavily urbanised areas. With the grid well on its way to decarbonising by 2050 there are plenty of renewable energy supply options that provide Renewable Energy Guarantees of Origin (REGO) to guarantee where that energy has come from. Kingly Partners work with owners and occupiers to ensurethe maximum value of their office space through development or acquisition advice and targeting net zero is increasingly becoming an important part of this advice.

Behaviour change is critical on our collective journey to net zero. Here at Kingly Partners we are working with our landlord and tenant clients to ensure that they understand the key actions needed to start (or speed up) their journey to becoming net zero. Turning the heating or air con settings down and ensuring that as much building and experiential data is collected and shared as possible. In this way we ensure both owner and occupational needs are met alongside facilitating net zero occupation. At the same time we can improve the health, wellbeing and productivity of both building occupants and the local community through improved air quality, biodiversity net gain and access to amenity space.

If you want to discuss opportunities for your office space and how to chart your net zero carbon journey, please get in touch with us and we can advise. We work with CNZW [Carbon Neutral Zero Waste] Developments Ltd who we have jointly written this blog with (https://cnzw.co.uk/)  

Blog co-written by Toby Hall at Kingly and Hannah Durden at CNZW

*Article here: https://www.jll.com.au/en/trends-and-insights/cities/cities-brace-for-shortage-of-net-zero-carbon-office-stock

**Kirsty Draper speaking at Canary Wharf Group