The Belgian (rental) market of professional real estate such as offices and retail properties is under pressure. The ample supply allows potential tenants to be more choosy. How can owners make their patrimony attractive, profitable and retain its value? Ingenium can help make buildings more sustainable, making the right choices in the short and long term.
Tenants in the professional market seek maximum comfort for their employees at the lowest possible rent and operational cost. Both financial aspects in particular can weigh heavily in the trade-off between various properties. The energy crisis has put things even more on edge.
REVENUES AND COSTS
De waarde van een gebouw staat in correlatie tot de huuropbrengst. Nemen we als voorbeeld een pand A dat goed geïsoleerd en piekfijn in orde is, en een pand B in een veel minder goede staat. Als bij A de kosten per m2 100 euro bedragen en de huurprijs 1.000 euro, wordt het pand tegen 1.100 euro/m2 in de verhuurmarkt gezet. Als bij B de kosten per m2 echter 300 euro bedragen, blijft er nog slechts 800 euro huuropbrengst over als de verhuurprijs gelijk blijft. De verhuurder van pand B is dus zowel op de korte termijn – huuropbrengst per maand – als op de lange termijn in het nadeel.
THE TENANT'S MOVE
Now it seems as if, with the same rent, the tenant will only base his choice between A and B on other aspects, such as location, total surface area, accessibility, etc. However, if, as in the past year, energy prices rise sharply, the operational costs for the tenant of building A rise sharply. Anyone about to change locations or looking to rent a location for the first time will obviously not choose a property that scores poorly in energy terms. And a tenant with a current lease will do everything possible to stay within the established budgets. With rising operating costs, there may then be a demand to revise the rent downward. In either case, the owner of Building B in the example draws the short straw.
Moreover, companies that rent premises must increasingly demonstrate that they operate in a green, sustainable manner, and these premises obviously play an important role in this. So for the landlord, obtaining a sustainable label is an asset because it makes the leased building more attractive - read: fetch a better price - on the market. And at the same time, the sustainable investments increase the long-term value of the building.
It may be clear: the tenant's move is today, because there is plenty of choice. But at the same time, the owner should not sit idly by and better anticipate the future.
DARE TO INVEST IN CAPEX
Is bijvoorbeeld je verwarmingsketel aan vervanging toe? Maak dan van dat moment gebruik om het plaatje ook rúimer te bekijken. Aan de hand van energiestudies van de bouwschil en de technische installaties geeft Ingenium patrimoniumeigenaars en -beheerders advies over wat de juiste stappen zijn om niet-duurzame panden op korte termijn opnieuw performant te maken, en op langere termijn te evolueren richting CO2-neutraliteit. We zetten een traject op dat gebaseerd is op de TCO en dat rekening houdt met zowel capex- als opex-kosten.
The pitfall is to choose the lowest possible capex cost for every intervention. However, it is also important that a capex investment simultaneously leads to a reduction in opex costs, as this strongly determines the attractiveness of a property to the tenant (see above). By investing in higher-performance and more sustainable installations, you can save more operationally. This not only shortens the energy payback period, but also increases the value of your building in the long term. So making sustainable investments is a smarter move than letting unfavorable buildings only at (very) low prices or not at all in the future.
Want to know more about this project and/or the opportunities to make your project sustainable? Contact us at sebastien.belpaire@ingenium.be or 050 40 45 30.
