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Property developers vow to stay green – despite being in red

She said that the potential cost savings afforded by greater energy efficiency meant that the business case for more energy-efficient buildings wrote itself, and that the industry was readying itself for the next upturn and a raft of pending legislation.

Although construction may have been temporarily put on the back-burner, commercial landlords were continuing to provide energy-efficient buildings through refurbishment and refitting in an effort to lower costs, attract customers and shareholders, and meet the requirements of Government legislation.

Peace said: "The answer to reducing costs is to reduce consumption. Through minor refurbishments and changes in building management this can easily be achieved. Simply switching off the lights or fitting timers can have a considerable impact on a buildings cost, and companies should be looking to spend now to save in the long term.

"With the downturn we are now operating in a buyers’ market where competition is fierce and the customer wants the best. If a building does not meet the highest standards of energy efficiency landlords will find themselves without a tenant."

The need to provide green buildings was strongly driven by shareholders who now wanted to invest in property that would stand the test of time, Peace said.

"With the promise of further Government legislation we need to ensure that UK commercial property is future-proof to attract foreign investors. As we begin to progress towards an upturn we must be ready, we need to pay attention and act now to ensure we are prepared."

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