Recent data proves investing in energy efficient retail centres increases their market value. It’s a potential win everyone in the sector should know about.
Here at Greenlite, we welcome new research from the BCSC (British Council of Shopping Centres) which suggests energy efficiency can increase the value of shopping centres by over five per cent.
The study looked at 35 UK retail centres. It found improvements are most pronounced for centres over 25 years old.
For an average £100 million shopping centre in the UK, the wins translate into higher market values of at least £105 million when energy intensive equipment is replaced with new.
For centres less than five years old, the analysis shows a value gain of over one per cent is possible. Failure to undertake energy efficient investments therefore risks losing around £5 million.
Specifically, the statistics say top savings are derived from replacing lighting, escalators, lifts and heating, ventilating systems, and air conditioning (HVAC) units.
“Shopping centres are one of the biggest single contributors to CO2 emissions in the UK commercial property sector,” said Rebecca Pearce, EMEA Head of Sustainability, CBRE.
“To finally have evidence to prove energy efficiency is not just a costly exercise without financial benefits is massive for our industry.”
The future is light
There are other wins too. Consumers under intelligent, clearly defined, modern lighting can see products better. Less glare and discomfort will be caused. Ultimately, not only are values raised; the shopping experience and reputation are enhanced too.
Recommendations say shopping centre owners should embed analysis of energy performance. Regular life cycle assessments like benchmarking of energy costs against total service charge should be used. Equally, monitoring energy costs as a proportion of rental income is key.
But most crucially, without implementation of the findings, wins can never happen. It’s not enough to merely illustrate change; action is necessary.
How Greenlite can help
At Greenlite, we understand the vital role that light can play in enhancing all aspects of the retail experience. Our recent case studies have shown well designed energy efficient retail lighting can increase sales by 278 per cent.
We now maintain lighting at over 10,000 sites and shops across the UK. The energy savings we create run into millions of pounds.
Greenlite’s financing scheme
Funding is often a barrier to energy efficiency upgrades, but here at Greenlite, we can help with that. Our fully maintained lighting leasing plan assists with challenging capital outlay, and ensures you will be saving money from the outset.
All this means there is no need to wait; you can move immediately on embedding efficiency and improving the quality of light in retail centres and individual shops.
The benefits of Greenlite lighting finance
- No risk – and no upfront capital outlay needed
- Savings on electricity bills will outweigh the lease cost
- Full warranty & full maintenance included for the duration of the lease
- ‘End to end’ project delivery – from product supply to installation and maintenance
Do get in touch to see how we can help with your retail lighting.