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The increasing importance of sustainability for building ownership

Reed, Richard G. and Wilkinson, Sara J. 2005, The increasing importance of sustainability for building ownership, Journal of corporate real estate, vol. 7, no. 4, pp. 339-350.

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Title The increasing importance of sustainability for building ownership
Author(s) Reed, Richard G.
Wilkinson, Sara J.
Journal name Journal of corporate real estate
Volume number 7
Issue number 4
Start page 339
End page 350
Publisher Emerald
Place of publication Bingley, England
Publication date 2005
ISSN 1463-001X
Keyword(s) buildings
energy conservation
sustainable development
Summary 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 owner’s 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.
Language eng
Field of Research 120104 Architectural Science and Technology (incl Acoustics, Lighting, Structure and Ecologically Sustainable Design)
Socio Economic Objective 970112 Expanding Knowledge in Built Environment and Design
HERDC Research category C1.1 Refereed article in a scholarly journal
Copyright notice ©2005, Emerald Group Publishing Limited
Persistent URL http://hdl.handle.net/10536/DRO/DU:30022051

Document type: Journal Article
Collections: School of Architecture and Built Environment
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Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.