New research shows stiff new environmental laws are moulding the future of London office space developments.
The British Council for Offices says developers building new offices in the capital are adhering to stringent new laws requiring buildings to be environmentally-friendly and sustainable.
Whilst many developers are rising to these challenges, existing offices, built before the new legislation was introduced, could become less desirable.
It predicts that buildings which are not environmentally ‘sound’ could stagnate and be left without market interest, as companies seek to move into new builds instead.
New developments in London are already showing huge regard for the environment – with KPMG’s new Canary Wharf offices getting an ‘excellent’ rating for originality and sustainability.
The industry must now consider how existing offices can be improved to meet environmental standards, or face a large number of unoccupied, unwanted office buildings in their portfolio.
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