More than 1 Million commercial buildings risk being stranded assets in 6 years time
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FORE Partnership & LondonProperty.co.uk launch sustainability health check to address commercial real estate challenges
London, UK – August , 2024 – FORE Partnership and LondonProperty.co.uk have joined forces to tackle the pressing issue of sustainability in commercial real estate. Facing the urgent need to reduce waste and comply with pending regulations, the two companies have introduced a Sustainability Health Check service to assist owners and managers in enhancing their sustainability practices.
With 85% of the UK’s 1,500,000 commercial buildings at risk of becoming obsolete within six years, it is crucial to address these sustainability challenges now. Buildings that do not meet the upcoming sustainability requirements risk becoming stranded assets, which cannot be let, financed, or insured.
Key Services Offered:
– Sustainability Health Checks: Comprehensive evaluations to assess the current sustainability status of properties.
– Sustainability Business Plans: Development of tailored plans to enhance property sustainability.
– Execution and Funding: Implementation of sustainability upgrades and access to funding solutions.
– Community Awareness: Raising awareness of sustainability issues and solutions within the real estate community.
Focus Areas:
– ESG Regulations: Detailed discussions on the impact of Environmental, Social, and Governance (ESG) regulations.
– Stranded Assets:Strategies to prevent properties from becoming obsolete due to non-compliance.
Featured Expert:
– Basil Demeroutis, Managing Partner of FORE Partnership,brings extensive expertise in sustainable development. Recognizing that 40% of waste stems from real estate, Demeroutis stresses the urgency of sustainable practices to avoid future stranded assets. He emphasises the real estate sector’s significant contribution to greenhouse gas emissions and waste, highlighting the urgent need for real estate professionals to address these environmental challenges.
“We have a responsibility to address the sustainability challenges facing commercial real estate,” said Demeroutis. “With pending regulations on the horizon, it is crucial for owners and managers to comply and mitigate potential risks. Our Sustainability Health Check helps companies assess current practices, identify improvement areas, and implement sustainable solutions benefiting both the environment and their bottom line.”
The Sustainability Health Check provides a comprehensive assessment, covering energy efficiency, waste management, and sustainable procurement. By leveraging industry expertise, owners and managers can gain valuable insights and guidance on meeting regulatory requirements, reducing waste, and enhancing the long-term value of their assets.
LondonProperty.co.uk was set up to help its members navigate the complexities of the property market and connect with individuals who lead in their sector. The platform, with a founding community of 1500 prime real estate owners and investors, collaborates with industry leaders to turn real estate challenges into opportunities with expert knowledge and reach. Founder Farnaz Fazaipour states that the real estate industry has a huge responsibility to address the waste that is produced by the sector.
For more information on the Sustainability Health Check and the efforts of FORE Partnership and LondonProperty.co.uk in promoting sustainable real estate practices, please watch our service announcement video
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