Is your building ready for the future? Look now for that energy renovation!
Is your building ready for the future? Soon it will not be you but your tenant who decides whether your office or shopping center is energy efficient enough. Buildings that are not energetically up-to-date will be less comfortable and more expensive to operate than new or renovated alternatives. That makes them less attractive on the rental market. The large supply in the capital cities also makes the choice for tenants a lot easier. Therefore, make sure you give your real estate that much-needed update in a timely manner. With a thoughtful and phased approach, this can also be done in a cost-conscious way.
4 steps
Everything starts with a rough estimate. Possible ways to increase the value of the building or patrimony with energy-friendly interventions are listed. A second step is the concrete feasibility study in which capex, opex and CO2 savings are calculated in detail. Then the effective renovation is prepared and carried out through technical studies, tenders and site visits before and during the works. The 4th step is the indispensable aftercare, where we provide support and optimization of the installations.
Projects for Patronale-Life, Banimmo and AG Real Estate
The 4 projects in this framework on which we collaborated in Brussels all fall under Step 1. Both in the office buildings Amazone of Patronale Life and Networks Forest of Banimmo and the shopping centers The Mint and City 2 of AG Real Estate, we worked together with the Forward Thinkers of Bopro from Ghent. They were asked to estimate in advance which measures could be taken to achieve a certain BREEAM In-Use score. To this end, Ingenium performed a concise energy audit each time, which formed the basis for improvement proposals for the building envelope and/or the technical systems.
Amazon
The Amazon office building in Brussels dates from 1987, so it could use an energy upgrade. We first drew up a description of the technical installations - what is present? - and linked an energy balance to it, an estimate of the various energy uses. So we got a double pie chart (illustration) showing the current energy requirements for heating, domestic hot water, lighting, the electrical consumption of the air groups, and so on.
This analysis of current condition is the starting point in the CRREM tool. (Illustration) That Carbon Risk Real Estate Monitor determines, based on various paramenters, how much a building is worth today and in the future, according to ever-increasing sustainability expectations. In the curve, the 'stranding point' is crucial: the moment at which your building performs as it should if it meets the increasingly stringent targets for CO2 reduction - the green line. If your building does emit more CO2 than it should, the market value of your building will continue to decline after this stranding point.
To intervene is to profit
Once the stranding point is determined, we propose an improvement plan with concrete measures. For the Amazon building, we looked at the impact of renovating the facades, replacing gas boilers with heat pumps, a hybrid ventilation system, optimizing the building management system, a PV installation, roof insulation and renewing the windows. The various measures are plotted on a timeline, according to maximum positive impact on the reduction of CO2 emissions - figure with red curve - and the reduction of energy consumption - figure with green curve. (2x illustration) From 2035 we do go above the stranding point here, but the purchase of green electricity will then provide the correct compensation which is allowed in the CRREM after all other possible savings measures have been implemented. The difference between the horizontal dotted line - what if we do not intervene - and the red or green curve is related to how much money can be saved by doing so.
(Triple)dual use
The advantage of this analysis is that it can be used for multiple purposes, not only to make concrete investment choices. Bopro also implements these measures in the BREEAM In-Use dossier, in which energy consumption plays an important role. In addition, they also examine the influence of the measures on the EU Taxonomy, which labels buildings according to energy consumption. In the case of Amazone we thus obtain 'class C' and the building will meet the EU Taxonomy requirements after all measures have been taken.
Don't wait!
High-performance insulation and modern building technologies reduce energy costs and increase user comfort. Buildings that do not meet these requirements will become less and less attractive, and thus decrease in (market) value. Patronale Life, Banimmo and AG Real Estate realize that starting the energy renovation now on time will mean profits in the future. The fact that the investments can be made in phases also makes this economically feasible.