Buying up prime commercial property assets in UK cities and then giving them a green makeover can boost their value according to a report by a leading European green property fund.
Analysis of a City of London building found that some 15–20 per cent of the added value of the building was down to its green retrofit.
Among the green measures introduced at 77 Gracechurch Street were a new building management system, automated meter reading, a waste management system and a ‘green committee’ to “monitor progress and performance” on the building’s environmental performance.
The site was acquired in the summer of 2010 for £35,900,000 from Greenhills Real Estate. The freehold was sold a year later for £43,500,000.
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