Will healthier office buildings be valued more?

Francesca Brady, CEO of AirRated joins Bold Founder, Caleb Parker, to share how her company is helping asset managers improve the wellbeing of their real estate customers, and leverage this to win business.

As more and more companies move to a hybrid world where workplace choice is ubiquitous, customers who are "voting with their feet" will choose to work where they feel most productive, and feel safe and taken care of….especially coming out of the pandemic.

In this episode Francesca and Caleb talk about the importance of good air quality in our offices, why this matters to the customer experience and how LGIM is rolling this out across 2M SqFt of real estate this year.

They discuss the science behind how good air quality affects productivity, we learn what an AirScore is and how customers will choose where they work based on its AirScore, and ultimately how this could affect asset valuation. 

Connect with Francesca on LinkedIn:
https://www.linkedin.com/in/francesca-brady-833987108/ 

Connect with Caleb on LinkedIn
https://www.linkedin.com/in/calebparker/ 

If you have any questions or feedback on this episode, email podcast@workbold.co

Value Bombs

• There are health benefits and productivity benefits of good air quality
• People who work in buildings with good air quality are more productive than people who don’t
• CO2 impacts how our brains function - elevated levels of CO2 fogs our brains and reduces cognitive performance
• By monitoring CO2 levels we can action things to improve air quality and keep levels optimum
• It’s the landlord’s responsibility to inform large real estate customers on how best to use their buildings to maintain optimal air quality
• Every asset should have a framework that defines the operational accountability between the landlord and the large real estate customer
• Asset managers should be responsible for improving, monitoring, and maintaining the mechanical infrastructure of their asset
• Building air quality standards are out of date and need to be bumped up
• Buildings that deploy smart technology can optimise based on demand and save money
• Soon tenants will want #AirQuality paremeters secured in the lease
• In the near term, asset valuation could be affected positively by acceleration of leasing campaigns and reduced void periods.
• In the long term, buildings with healthy AirScores will be valued at a premium
• Soon, everyone will be able to test the air quality of a building with their mobile phone

Resources

1. Air in Review Report
2. New rules to improve air quality in office space (The Times)
3. LGIM to bring air quality score to 2m sq ft portfolio (EG)

About Francesca Brady

Francesca holds a Masters degree in Environmental Geoscience from Royal Holloway, University of London; home to some of the world’s leading experts in the sciences. And during her degree, she found specific interest in the topic of indoor air quality (IAQ), so after graduating, she channelled her knowledge and passion for this into her career.

In 2019, she co-founded AirRated to further pursue her interest in the effects of IAQ on the health, wellbeing and productivity of people. Learn more about AirRated at: https://airrated.co

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