Sustainability factors have been named as key for attracting tenants and to the liquidity and pricing of life science assets, according to JLL’s latest life science insight series.
The UK’s life science sector has grown to 1.4 m sq ft of lab space in the past five years. JLL predicts that this trend will continue – with 11.4 m sq ft to be recorded in the pipeline in the next five years – and has revealed a roadmap to making life science facilities more sustainable.
Decarbonisation was named as a key priority as labs, on average, generate more than double the carbon emissions of offices. However, JLL noted that reduction of carbon emissions by lowering energy usage is unlikely to curb operational carbon completely, suggesting that the reduction method used in combination with negation and reversion methods is more effective in achieving a net zero target.
The research also cited reduction of water usage as another important element in boosting sustainability of life science assets – data showed that labs are using up to four times more water than offices. Incorporating as many methods to reduce water usage as possible will ensure operational and economic efficiency, as well as environmental sustainability.
Finally, JLL found that maintaining a circular economy is another step to mitigating the environmental impact of life science assets. This is the concept of keeping materials and products in use, recycling all waste, and investing in regenerating natural systems. For life science this means a focus on correct waste disposal and recycling and is primarily driven by good management practices.
Emma Hoskyn, UK head of sustainability at JLL, said: “Occupiers are now after real estate that will complement their sustainability strategies and through mitigating the environmental impact of their assets, landlords and investors can ensure that they are attracting the best tenants.”
Chris Walters, head of UK life sciences at JLL, said: “Life science occupiers are some of the most innovative, forward thinking companies globally and their real estate needs to reflect this, both in design and operationally. Life science companies must have a sustainability strategy that reflects their brand and given the fast-growing nature of the industry, sustainability is key for both occupiers and investors.”
To send feedback, e-mail evelina.grecenko@eg.co.uk or tweet @gre_eve
