Partnership plans for the future of green refurbishment

Published: March 2011

Skanska and Arup have formed a strategic partnership to provide clients with a jointly delivered green retrofit and refurbishment process for commercial property. This market is worth over £10 billion a year in the UK and is set to undergo a much needed transformation. The partnership has already lead to several showcase pilot refurbishment projects, which will commence work later this year. These redevelopments will be focused around improving energy, carbon and water efficiency and be exemplars for the next generation of green refurbishment.

Mike Putnam, president and CEO of Skanska UK, says, ‘The property market is changing. Tougher climate-change laws, new ways of working and demands from investors and tenants are transforming the way we think about building performance and value. These changes are forcing the industry to evaluate property assets in ways that consider their long-term value and their role in achieving corporate goals.’

David Glover, Arup’s global property market leader says, ‘It can be virtually impossible for portfolio holders to identify which retrofit and refurbishment initiatives have the most impact on an individual property’s market value. Short-term cosmetic upgrades may have an immediate effect, but in today’s market businesses need to make investments that bring value both today and tomorrow.

‘This partnership bridges the gap between sustainability and value, allowing portfolio holders to make forward-looking changes that meet the requirements of new legislation, improve performance, reduce risks, and that satisfy the sustainability criteria of tenants, owners and investors.’

Through the partnership Arup and Skanska are integrating architectural, engineering, and financial risk analysis.