There are many businesses in the UK that are facing issues with their existing commercial property. Due to this, some of these companies are choosing to either allow their employees to work from home or move to another commercial property. That being said, some businesses are choosing to renovate their existing office/commercial property to optimise their budget more.
There are some businesses that are choosing to build a new building; however, that is no longer the best option. This is due to the rise in prices for materials and overall inflation in the economy. Furthermore, this doesn’t align with the goals of being more sustainable. This is why companies are opting towards retrofitting, because it is significantly cheaper and far more sustainable.
How Retrofitting Is More Suitable For The Path To Net Zero
One of the core concerns for the UK government is sustainability. In fact, it is a large concern for more than just the UK. That being said, the UK has committed to being net zero by 2050, and that seems like it is quite far away, but with the changes the UK needs to make, it isn’t a lot of time. One of the main issues with this is that the construction, operation and maintenance of buildings contribute roughly 40% of carbon emissions. So a lot needs to be changed with this alone.
There has been a common misconception that we will be reaching net zero by building new buildings when in reality, that is not the case. This is because 70% of the buildings that exist today will also be around in 2050. This is why retrofitting will be a much more viable option.
There are a high number of benefits in regards to retrofitting, but one of the core reasons for that is that it is energy-saving. It helps to reduce the energy consumption of the existing building significantly. This will not only benefit in reducing that property’s carbon footprint, but it will also help to reduce energy bills. Part of the retrofit would include upgrading the insulation, windows, and installing HVAC systems would reduce energy use and reduce cost cutting significantly.
Financially Retrofit Makes Sense
Another great benefit to retrofitting is that, financially, it is a much better option. This is something that a lot of business owners will be attracted to, reducing the costs of their business operations. For example, due to reducing the energy consumption, the prices of energy will be lower.
For landlords, this will also bring a significant improvement because tenants will be willing to pay more due to a good environmental performance, knowing that their energy bills will be lower. Plus, tenants will be willing to stay in this property for much longer due to it being more energy efficient. Lower vacancy rates for a tenant are always a benefit.
For those business owners who are looking to improve overall team morale, a retrofit can do just that. With the interior improving significantly, overall health and well-being will also improve due to the air quality becoming better.
What Is Part of Retrofit?
There are a lot of features of a commercial building that can be retrofitted. A main concern, especially for high-rise buildings, is the lift. Lift technology has improved significantly in the last couple of decades, which is why a lift must be modernised for its efficiency and sustainability. Furthermore, the energy consumption of an old lift can be expensive, so with a lift modernisation, energy-efficient motors, smart controls, and overall accessibility can be improved. Not to mention that overall lift safety can be improved.
Retrofitting aims to make the building more energy efficient by reducing energy consumption. This will include kitchen appliances, lighting, HVAC systems and anything else that requires energy. Once all of this has been completed, energy consumption and bills will reduce the overall cost of the energy bills significantly. Smart meters can also be installed inside the building to make it more energy efficient.
To Conclude
As you can see, a retrofit can make a lot more sense than constructing a new building or even moving to another premises. In the modern world, a lot of businesses are aiming to reduce their energy consumption as this reduces their operating costs. Additionally, commercial landlords will be doing this because it helps to tie down their tenants, and it improves overall well-being. Furthermore, the value of the property will also increase significantly.
Retrofitting is certainly considered a core benefit for every property because it makes a lot more sense in the long term. Plus, knocking down existing buildings and rebuilding them will cost a lot more. Not to mention that a retrofit makes a lot more sense in terms of achieving net zero.