Is sustainable property construction underfunded?’

Is sustainable property construction underfunded?’

Sustainable property construction has been hindered by a severe lack of funding over recent years. This is according to expert, Stuart Thornhill,from Jonathan Cornes Associates, Chartered Building Surveyors in the North West, who has outlined the various hurdles developers and planners must overcome to create a low-energy building that is attractive to tenants.

Jonathan Cornes, Partner at JCA, Chartered Building Surveyors said; “It is no surprise that you don’t hear up and down the country about major cities launching these kinds of commercial property construction programmes because there are dangers to be ironed out in terms of financing deals.”

Building eco-friendly property understandably requires significant financing and without the support of the government, private funding is currently the only way to raise capital.

Green commercial property has many attractions to tenants. Reduced utility bills and overheads mean business property can become more sustainable and workable for future generations.

“There also needs to be an increase in tenant demand for these green commercial development projects to be completed. The country faces a “real challenge” in making the country’s office space more environmentally-friendly. When tenants understand the benefits and are prepared to pay a premium for a retrofitted, highly energy-efficient building, that is when the market will move.”