Florist Pulbrook & Gould has become the first retailer to sign a green lease with Grosvenor for its new flagship store on Buckingham Palace Road.
The lease means Pulbrook & Gould will collect and share its energy consumption data with Grosvenor, implement a reduction and recycling programme and use only green energy. The florist will also join a new tenant forum to help accelerate innovation.
Grosvenor is making its green leases standard for all new office and retail in Mayfair and Belgravia, and in time will oversee the adoption of these leases by existing occupiers as part of its plans to become zero carbon by 2030.
Tenant emissions account for 90% of all operational emissions from buildings owned by the estate.
These green leases will enable Grosvenor to procure 100% deep green energy for its tenants at competitive and less volatile prices, prepare EPCs for buildings, determine necessary works to improve environmental performance and expand its waste and delivery consolidation programmes.
In addition, Grosvenor will be able to collect tenant energy and water consumption data and act on this, as well as agree a dilapidations payment with a tenant to avoid the duplication of works at lease end.
Tor Burrows, director of sustainability and innovation at Grosvenor Britain & Ireland, said: “Working together, landlords and tenants can drive down emissions much faster, creating healthier, more sustainable places. We’re also acutely aware of the cost pressures on businesses, and the changes to leases only include no cost or low-cost initiatives.
“Our approach enables companies to choose a landlord focused on working with them to operate sustainably and survive commercially. By leveraging our buying power, a smaller business could save circa 6% on electricity bills, time in setting up and managing utilities, as well as reducing their CO2 emissions.”
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