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A new study commissioned jointly by infinitSpace and The Instant Group reveals that the office market is lagging behind environmental policies. Key findings include:
- Nearly half (47%) of landlords believe the office market lags behind other areas of the real estate sector in implementing/adopting environmental policies.
- The same number say they can’t ‘go it alone’, and 47% of landlords agree they need help developing an environmental policy.
- Meanwhile, 84% of landlords report that their office building portfolio has an average vacancy rate of 30% or higher
These insights come from a survey of 250 commercial landlords with offices in the UK and a new research partnership between infiniteSpace, creators of white label tech-enabled flexible workspaces, and The Instant Group is the first one obtained from The largest global marketplace for flexible workspace solutions.
The survey, conducted independently by Censuswide, found that office landlords have significant knowledge gaps in their ability to develop environmental policies, with almost half agreeing they need help. It also reveals the widespread belief that the workspace market is moving too slowly in implementing and adopting environmental policies, with 47% of landlords saying the office market lags behind other areas of the real estate sector. 20% think they do, while 20% don’t.
The survey also revealed low occupancy rates across UK offices. This, in itself, is a major factor in the overall energy efficiency of commercial buildings, with 84% of landlords reporting less than 70% occupancy and 53% having half-empty offices. said. the following.
All 250 landlords were asked to identify how their sustainability policies are currently being adopted across their office portfolio, revealing a correlation between occupancy rates and levels of sustainability practices. 56% of offices with the strongest suitability policies had offices with an occupancy rate above his 70%.
Weibo Weinbergen, CEO of Infinite Space, said: Said: “We are delighted to partner with The Instant Group on this important research project investigating the adoption of sustainable policies in the UK office market and the challenges landlords face in implementing them.
“As a sector, the office market is a large emitter of carbon, and a transition to net-zero is essential to reach the sustainable future our planet so desperately needs. It depends on understanding and mitigating the challenges we face in improving our operations, and the research partnerships announced today will go a long way in clarifying these challenges and where the sector must act. The first few results we are releasing today are just scratching the surface: the real estate sector can play a key role in safeguarding the future of our planet, and now is the time to act.”
Sam Pickering, Executive Director of Sustainability at Incendium (part of the Instant Group) Said: “The urgency of the climate crisis, stakeholder pressure, increasing regulation and consumer-driven transparency are rapidly changing the corporate sustainability landscape. Research between The Instant Group and infiniteSpace Partnerships are a step for the commercial real estate sector to identify where key stakeholders can start making a difference.
“Companies must adapt, starting with landlords and property owners. We need data transparency to give, and our intention with research initiatives like this is to lay a strong foundation for sustainable outcomes for all.”