We'd love to talk to you, so if you would like some more information please contact us. We look forward to hearing from you.

info@sturgessvandamme.co.uk

Telephone: +044 01275 349 011

Fax: +044 01275 349 368

“GOING GREEN” COULD COST DEVELOPERS, WARNS KING STURGE

The drive towards more renewable energy could add up to 30 per cent to building costs this year, according to property experts in the South West.

International property consultants King Sturge say much will depend on the demands of individual local authorities on how “green” any development‘s supply should be.

Tim Harris, a senior associate at the firm‘s Bristol office, said this could lead to inconsistency between different areas.

“A 10 per cent renewable energy figure is becoming more widespread and several councils are looking at doubling the demand,” he said.

“It will continue to be a local authority-led initiative with the Government happy to leave it to local councils to progress and police it.

“This will, however, mean increasingly variable standards and increased uncertainty in those boroughs that are not clear about their requirements. If the top level is introduced you can add anything up to another 30 per cent to the normal overall build cost.”

Other developments during 2008 will include the final phase of introducing Energy Performance Certificates in October when all buildings smaller than 2,000 sq m will be included for the first time.

Other benchmarks could also be introduced to measure a building‘s performance in terms of sustainability – and not just carbon use.

“This will impact not only on the building stock renewed or developed during the year, but increasingly on the remaining 98 per cent and how these buildings can be improved and be counted as sustainable,” comments Tim Harris.

Mr Harris forecasts that building and tender prices excluding the “green” costs would rise by 5.5 per cent this year, compared to 5.6 per cent in 2007.

The figure is lower than the average of other forecasts and based on the potential decline in development activity and restriction on Government spending.  

ENDS             21st February 2008

For further information please contact Neil Fraser, Sturgess Van Damme, on 01275 349011 or email neil@sturgessvandamme.co.uk

Notes to editors

King Sturge is one of the largest international property consultancies in Europe (52 offices in 17 countries), with a comprehensive network of over 165 wholly owned and associated offices throughout the world.  Over 3,800 staff throughout these offices cover all property sectors and specialisms, including plant and machinery.  In Europe, King Sturge operates in principal mainland European cities.

In Asia Pacific, King Sturge has associations in Australia, Indonesia, Malaysia, New Zealand and Singapore.

In North America, King Sturge has business partners in the Americas and Canada through King Sturge CORFAC International.