Making sustainability a reality

Sustainability has become a strategic priority for Green REIT. We recognise the importance of sustainability in the built environment and introduced a sustainability policy in 2015 with five key areas of priority.

Over a five year timescale we have set ourselves short (one year), medium (two to three years) and long term (five years plus) actions.To implement this, we are focused on enhancing the sustainability of our multi-let properties and over the medium term we would hope to seek engagement from single let occupiers to widen the reach of our strategy.

As a result, we are on track to achieve the Global Real Estate Sustainability Benchmark (GRESB) in 2017. Green REIT plc is also aligning itself with the European Public Real Estate Association’s Sustainability Best Practice Recommendations.

 

Progress across our key priorities:

Green REIT plc has set itself five priorities in its sustainability policy:

We are matching and exceeding our legal obligations

We’ve reviewed all relevant Irish and European legislation to ensure we are complying with all our statutory obligations. In many cases, we go beyond legal requirements to ensure that properties are future-proofed against more stringent requirements in the years to come. Doing so is a very attractive benefit for would-be tenants looking to the long-term.

We are designing and delivering sustainable new and refurbished buildings

We recognise a well designed, sustainable and environmentally friendly buildings, which offer high quality efficient space and lower running costs will make our buildings more attractive to prospective tenants and thereby maximise long term returns.

All our new-build properties now target a Gold or higher certification in Leadership in Energy & Environmental Design (LEED) – this is a green building standard that recognises best-in-class building strategies and practices. Our recently completed office building in Central Park and 32 Molesworth Street have achieved the LEED gold accreditation.

After reviewing all our properties, we now implementing an action plan to improve the BER rating of poorer performers. All our assets have a building energy ratings (BER) rating of no lower than a C3 rating thus reducing the cumulative impact of energy costs over the long term.

We are managing our properties in the most environmentally-friendly way possible

By adopting a thorough and sustainability-led approach to asset management in conjunction with our service providers, in particular property managers, we seek to provide high performance accommodation and enhanced running cost efficiencies for tenants. In doing this, we believe we will achieve enhanced returns from our built space.

We’re working with tenants to help them enjoy the cost-efficiencies generated when sustainability is made a priority. As part of this, we encourage their fit-outs to meet the high standards we are setting.

This has a positive economic effect for tenants in the medium and long term. It also has the added benefit of sending out a very positive, reputation-enhancing message to their own clients and potential clients. Furthermore, in terms of attracting future employees, high-quality candidates are also drawn to employers that offer a working environment designed with sustainability in mind.

We are transforming our properties’ public spaces into positive environments

Many of Green REIT plc properties have shared and public spaces. Where possible, we are taking steps to turn these into positive environments. This includes planting, landscaping, adding public seating and even building shower and drying facilities to encourage cycling.

We recognise the wellbeing of the individuals working within our properties in addition to the experiences of customers and clients when they visit.

We are engaging with our tenants, suppliers and others to make
sustainability a success

In Central Park, our Live Work Grow programme offers bespoke events, presentations, food markets and many other initiatives to encourage the development of a genuine community. As a result, the Park has become an even more positive and welcoming place.

Live Work Grow is a unique programme created by Green REIT plc with an aim of bringing people together and enriching working lives in Central Park, Leopardstown. We are constantly developing an ever-growing range of services, clubs and initiatives that bring people together. To learn more, please visit the Live Work Grow website here.

With our property managers we are undertaking a review of our supply chain, health and safety, wage conditions and procurement policies.

We recognise investors are increasingly aware and are embracing sustainability thus we are committed to share sustainable performance on a regular basis to investors, including GRESB and EPRA benchmarks.

Case Studies

Live Work Grow is a unique programme created by Green REIT plc with an aim of bringing people together and enriching working lives in Central Park, Leopardstown. We are constantly developing an ever-growing range of services, clubs and initiatives that bring people together. To learn more, please visit the Live Work Grow website here.

Westend Retail Park

Westend Retail Park

Accessibility & Transport

One of our five key areas of priority is to transform our properties’ public spaces into positive environments.
We recognise the wellbeing of the individuals working within our properties in addition to the experiences of customers and clients when they visit.

In Westend Retail Park, we addressed the poor traffic management and improved disability, mother and child access to the retail park.

One Albert Quay

One Albert Quay

Delivering Sustainable & Environmentally Friendly Space

We recognise a well designed, sustainable and environmentally friendly buildings, which offer high quality efficient space and lower running costs will make our buildings more attractive to prospective tenants and thereby maximise long term returns.

George’s Quay House

George’s Quay House

Enhancing the Sustainability through Refurbishment

George’s Quay is a prime landmark office development in Dublin’s south docklands. Over the course of the year, we carried out upgrade works at Georges Quay with an aim to provide high performance accommodation and enhanced running cost efficiencies for tenants.