Green Consumer

We recently discussed how Green Ken has pushed to the forefront a Green Mandate for London's buildings, to reduce the capital's emissions to 60% below 1990 levels by 2025. That is a full 25 years before the Government's recommended timescale.

Green is definitely the new black, with everyone expressing their concern . An article in this month's RICS Commercial Property Journal features a comment from Matthew Warner, Head of Central London Development at Lambert Smith Hampton. Mr Warner makes the valid point that consumer demands will have a part to play as they require greener commercial office space.

The green band wagon is currently being dragged by the constantly changing Government Legislation, most notably the application of Part L of the Building Regulations, and Ken's mandate. As companies become more aware of the green issues, and face up to their social responsibilities, so they will start to push the green band wagon, demanding sustainable buildings with a small carbon footprint.

Mr Warner goes on to suggest that the demand for green buildings may well lead to an impact on the value of a building, potentially creating a negative effect on the buildings that do not achieve a good green score.

If there is a negative impact on some older buildings, Mr Warner believes that building owners may consider that knocking down older stock will be more cost effective then complying with Part L of the Building Regulations.

This will undoubtedly provide another challenge as there is a strong reluctance in other areas of the industry to knock down perfectly good buildings.