In 2008, a tenant client agreed to a 6-page green lease schedule to reinforce its corporate commitment to the environment. It was similar to the NSW government’s requirement at the time for its premises to have a 4.5 star energy rating. However because our client...
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In late July, we introduced Pullinen Property Group’s ESG initiative, CREcycle. We highlighted, “… energy has dominated the conversation for years, making it easy for the CRE industry to follow suit by focusing almost exclusively on NABERS energy ratings.” But what about the other NABERS? Looking at the...
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For years, NABERS has been the guiding light for improving sustainability and efficiency of office buildings with its ratings system for Energy, Water, Waste, and Indoor Environment Quality. It works really well, is now being adopted in other countries, and gives CRE tenants another way...
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Our passion and focus is CRE tenant representation and the markets in which they are housed, but today we digress for a moment. In May we introduced CREcycle as our initiative to reduce CRE landfill from the office sector one tonne at a time. Progress has...
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For many years we have tried to work out how we can make a bigger contribution to the E in ESG in the CRE industry. As a small entity, we do the right things, but we are only 2 people. We wanted to make a...
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The pathway to a more environmentally sustainable corporate and real estate world continues. New legislation across the globe is creating the next evolution in office buildings. In Australia, the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 is in the House of Reps. Schedule...
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CRE tenants consider ESG in varying degrees when making new office decisions. The biggest tenants consider it more than the local small business for 2 main reasons; resources and the cost. The good thing is that it is not out of reach as the below shows. We...
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High office vacancy rates around the world have everyone talking about what to do with older and more obsolete office buildings. Recently Carter Jonas (agency) reported that “close to 20% of UK offices are likely to be unlettable to the majority of occupiers with investment because...
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Following last week’s CREview, we had great feedback from a highly respected colleague in the market. They disagreed with our predictions of negative net absorption and now we realise why. Our views are compiled on a whole of market basis. Theirs was focused on the...
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The real elephant in the big room is the environment and climate change. Many in the industry are making best efforts to address this issue and others are not. Reportedly, the built environment accounts for around 40% of global CO2 emissions. Reportedly office buildings are one of...
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