Incentivised Smog Free Towers & Rates Rebate Concept To Tackle City Smog Together
CBRE Ireland’s Megan Burke Through to the Global Final of the RICS ‘Cities for Our Future’ Challenge
Dublin, 18th July 2018 – CBRE Ireland is delighted to announce that one of the company’s Senior Surveyors, Megan Burke of the Dublin office Advisory & Transaction Services team is one of 12 through to the global final of The Cities for our Future Challenge, a competition run by the Royal Institution of Chartered Surveyors (RICS) in partnership with UNESCO UKNC and the ACU.
The aim of the competition is to harness the transformative ideas for projects and polices from the organization’s younger members to help solve some of the defining issues and challenges facing our cities arising out of Rapid Urbanisation, Climate Change and Resource Scarcity. The hope is that the leaders of the world’s cities will work with RICS and its members to make these ideas a reality for the cities we care about and work in, to make them better for generations to come.
Having made it through over 1,200 entries from around the world, Megan’s submission, under the UK region’s ‘Rapid Urbanisation’ category centers on implementing policies that incentivise landlords and tenants to accommodate air filtration facilities as part of their buildings.
The idea is to incentivise landlords to erect air purifying towers on top of their buildings. In return, they are given a commercial rates abatement, which will make their properties more marketable and attractive to strong covenant tenants.
This Smog Free Tower idea cleans air by up to 70% while also giving our global cities a competitive advantage with lower business outlays. The Landlord takes on the initial cost of construction and maintenance and the council pays through a rates abatement.
Take for example, a Central London office tower of 342,000sq. ft. where the commercial rates for the building are £25.15 per sq. ft. For an occupier seeking 15,000sq ft of office space this idea would incur a saving of £ £377,250 per annum - an excellent marketing tool for the landlord and no initial costs for the government. All with the benefit of 70% more purified air within a 10,000sq ft radius. This idea can be implemented in any city in the world.
As a regular visitor to London for work, I am acutely aware of the challenges the city faces and its need for environmentally sustainable innovative ideas for the future of the city’s office buildings - ideas that are realistic to implement and ultimately commercially viable - I am thrilled to have made it to the final 12 and am confident that this idea will incentivise both institutional landlords and city councils & Governments to tackle city air pollution together. I have really enjoyed the RICS challenge so far and am looking forward to the global final of the competition.
For more info on the RICS Cities for Our Future competition: https://www.citiesforourfuture.com/
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CBRE U.C., (CBRE Ireland) registered in Ireland, no. 316570. PSRA Licence No. 001528 is the country’s largest commercial real estate services company with offices in Dublin and Cork. Currently employing over 135 employees, we work with occupiers, investors and developers of office, industrial and logistic, retail, hotel and healthcare property, providing strategic advice and execution for property sales and leasing; tenant representation, corporate services; property and project management; appraisal and valuation; development services; investment management and debt advisory; business rates and compulsory purchase and research and consulting. Please visit our website at www.cbre.ie