The increasing importance of sustainability for building ownership

Reed, R; Wilkinson, SJ

The increasing importance of sustainability for building ownership

Reed, R Wilkinson, SJ

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Publisher:: Emerald
Publication Type:: Journal Article
Citation:: Journal of Corporate Real Estate, 2005, 7, (4), pp. 339-350
Issue Date:: 2005-01

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Field	Value	Language
dc.contributor.author	Reed, R
dc.contributor.author	Wilkinson, SJ
dc.date.accessioned	2023-10-11T14:39:17Z
dc.date.available	2023-10-11T14:39:17Z
dc.date.issued	2005-01
dc.identifier.citation	Journal of Corporate Real Estate, 2005, 7, (4), pp. 339-350
dc.identifier.issn	1463-001X
dc.identifier.issn	1479-1048
dc.identifier.uri	http://hdl.handle.net/10453/172650
dc.description.abstract	Purpose - This study seeks to investigate the degree to which energy efficiency is incorporated into office building refurbishment and capital expenditure with the emphasis placed on a cost-benefit analysis from the owners perspective. Design/methodology/approach - In order to develop a research framework, a thorough literature review was conducted of three disciplines being construction technology, building refurbishment and property management. The study identifies differences between varying levels of capital expenditure to ensure an existing building is more energy efficient, with the emphasis placed on the cost of implementation and the potential for tenants to acknowledge the increased energy efficiency via higher rents. Findings - Office buildings have been identified as a contributor to global warming during the construction phase, however during the building lifecycle there is a greater contribution to CO2 omissions. Whilst various building designs and construction techniques have evolved to improve energy efficiency, the focus has largely been placed on new buildings where it is easier to incorporate change and innovative approaches. However, the proportion of new buildings constructed each year is relatively small in comparison to existing building stock, which requires regular capital expenditure to maintain and attract new tenants within a competitive marketplace. Practical implications - The increasing importance of energy efficiency affects the office market in a variety of different ways. Originality/value - This paper identifies important links between the environment and the built environment, and the implications for office building owners.
dc.language	en
dc.publisher	Emerald
dc.relation.ispartof	Journal of Corporate Real Estate
dc.relation.isbasedon	10.1108/14630010510700831
dc.rights	info:eu-repo/semantics/closedAccess
dc.subject	1503 Business and Management, 1504 Commercial Services
dc.subject.classification	3507 Strategy, management and organisational behaviour
dc.title	The increasing importance of sustainability for building ownership
dc.type	Journal Article
utslib.citation.volume	7
utslib.for	1205 Urban and Regional Planning
utslib.for	1503 Business and Management
utslib.for	1504 Commercial Services
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building/School of Built Environment
pubs.organisational-group	/University of Technology Sydney/Strength - CCDP - Contemporary Design Practice
pubs.organisational-group	/University of Technology Sydney/e-Press
utslib.copyright.status	closed_access	*
pubs.consider-herdc	false
dc.date.updated	2023-10-11T14:39:06Z
pubs.issue	4
pubs.publication-status	Published
pubs.volume	7
utslib.citation.issue	4

Abstract:

Purpose - This study seeks to investigate the degree to which energy efficiency is incorporated into office building refurbishment and capital expenditure with the emphasis placed on a cost-benefit analysis from the owners perspective. Design/methodology/approach - In order to develop a research framework, a thorough literature review was conducted of three disciplines being construction technology, building refurbishment and property management. The study identifies differences between varying levels of capital expenditure to ensure an existing building is more energy efficient, with the emphasis placed on the cost of implementation and the potential for tenants to acknowledge the increased energy efficiency via higher rents. Findings - Office buildings have been identified as a contributor to global warming during the construction phase, however during the building lifecycle there is a greater contribution to CO2 omissions. Whilst various building designs and construction techniques have evolved to improve energy efficiency, the focus has largely been placed on new buildings where it is easier to incorporate change and innovative approaches. However, the proportion of new buildings constructed each year is relatively small in comparison to existing building stock, which requires regular capital expenditure to maintain and attract new tenants within a competitive marketplace. Practical implications - The increasing importance of energy efficiency affects the office market in a variety of different ways. Originality/value - This paper identifies important links between the environment and the built environment, and the implications for office building owners.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/172650