Jones Lang LaSalle (JLL) and its real estate sustainability services subsidiary Upstream have launched the first in a series of reports aimed at benchmarking the profit implications of sustainable development.
Unveiling its Sustaining Value report at the Think ’08 Conference in London’s Excel, JLL said it was the first in a “series of white papers that seek to identify a measure by which the ‘sustainability’ of a property can be valued and therefore answer the question of the moment – is there profit to be made in sustainability?”
Sarah Ratcliffe, lead director of Upstream, said: “Sustainability is a new dimension to property risk and therefore price and performance.
“Quantifying the sustainability of an asset and linking this with conventional measures of investment performance, such as asset value, management costs and rental growth would enable us to respond with a greater degree of certainty and accuracy to this question.”
Upstream and Jones Lang LaSalle will assess three areas – building fabric/location; the costs/quality of management, and occupier demand – across 1,500 properties.
JLL said the consultation would provide a “crucial and practical response to clients seeking to establish how exposed their assets are to sustainability risks”.
JLL bought Upstream – which was set up in 1997 by chairman David Cadman – to be a part of its professional and advisory group in November of last year.
The company provides corporate sustainability strategy advice and environmental benchmarking of properties and portfolios.
