Future-Proofing Commercial Real Estate through Green Retrofits30 October 2024
Header Image by IPUT Real Estate Dublin
The best commercial building is the one that performs to the highest standard, with the lowest environmental impact, and is fully let.
Our expertise in sustainable architecture enables us to provide guidance and innovative solutions that help commercial properties adapt to new regulations without compromising on functionality or aesthetic value.
By improving energy efficiency, reducing carbon footprints, and ensuring compliance, retrofits not only safeguard property value but also position assets competitively in a market that increasingly prioritises sustainability.
Over the past ten years, MCA has successfully completed numerous projects with sustainable building certifications, including certified LEED and BREEAM projects, along with certified WELL initiatives. Our team includes a Passivhaus designer and we maintain an active membership in the Irish Green Building Council. Furthermore, we implement ISO 14001, an internationally recognized standard for environmental management systems, demonstrating our commitment to sustainability and responsible environmental management to clients and stakeholders.
Dockline: A carbon conscious retrofit which upgraded the overall building from a D2 BER rating to an A3 BER rating.
Dockline for Credit Suisse and Cumberland Place Phase 1 for Hibernia Reit reflect our unwavering dedication to sustainable and innovative design. Both developments achieved LEED Platinum certification, demonstrating our expertise in creating environmentally responsible spaces. Dockline transformed an ageing office building in Dublin's IFSC area, enhancing its energy performance to an A3 BER rating while reusing 88% of its existing structure. Similarly, Cumberland Place Phase 1 reimagined a 1970s building on Fenian Street, elevating its energy efficiency to a B2 BER rating and reusing 98% of its façade. Each of these projects harmonises contemporary architectural interventions with the rich historical context of their surroundings, setting new benchmarks in the refurbishment of commercial properties.
Cumberland Place: This LEED Platinum remodel reused 98% of the existing carbon-intensive structure and façade.
Carbon-Conscious Development: Adapting to the European Green Deal, EU Taxonomy, and EPBD Requirements
Clients are now increasingly “Carbon Conscious” in relation to their development projects and understand that the aims and requirements contained within The European Green Deal, EU Taxonomy and Energy Performance of Buildings Directive (EPBD) outline a reality where ALL additional introduced carbon content related to developments, both embodied and operational, has to be both accounted for and mitigated. Clients understand now that this marks a shift in the traditional approach to development as the most effective opportunity to minimise “Carbon Cost” is at the outset of a project and the most effective strategy is to implement a “Carbon Conscious” Retro-Fit where possible.
The importance of Green Retro-Fits for clients has emerged from an EU legislative environment where The European Green Deal, EU Taxonomy and Energy Performance of Buildings Directive (EPBD) are setting a new benchmark for sustainability within the EU, introducing a series of stringent regulations and directives that are reshaping the design, construction, operation, and renovation of commercial properties. As sustainability regulations evolve, aligning with them is critical for key stakeholders in commercial real estate, including construction consultants, investors, estate developers, facility managers and leasing agents. Additionally, Information Technology directors, Chief Technology Officers (CTOs), and facility managers in data centres face increasing pressure to enhance sustainability while maintaining performance. Green retrofits offer a strategic solution, enabling these stakeholders to meet the stringent requirements of the European Green Deal, EU Taxonomy, and Energy Performance of Buildings Directive (EPBD). By improving energy efficiency, reducing carbon footprints, and ensuring compliance, retrofits not only safeguard property value but also position assets competitively in a market that increasingly prioritises sustainability.
The European Green Deal and Real Estate
The European Green Deal aims to make the EU's economy sustainable by turning climate and environmental challenges into opportunities across all policy areas. The European Green Deal seeks to position Europe as the first climate-neutral continent, introducing stringent measures to cut carbon emissions. The EU Taxonomy provides a classification system that defines which economic activities are considered environmentally sustainable. For the real estate sector, this includes specific guidelines for energy performance, resource efficiency, and carbon reduction in both new buildings and retrofits. The EPBD requires that all new buildings be nearly zero-energy by 2030, while existing buildings must undergo renovations to meet these high standards. The Fit for 55 Package further increases the pressure by setting a goal of reducing emissions by at least 55% by 2030.
For real estate, all these regulations mean substantial changes in how buildings are designed, built, operated and renovated. Commercial properties must now adhere to higher sustainability standards, focusing on energy efficiency, reduced emissions, and overall environmental impact.
Irish Life Block 3: This high end cut and carve of Irish Life’s iconic HQ on Abbey Street is the biggest carbon saving retrofit in Dublin city.
The Strategic Role of Green Retrofits
Green retrofits are essential for existing commercial buildings to meet the new criteria set out by the European Green Deal, EU Taxonomy, Energy Performance of Buildings Directive (EPBD), and the Fit for 55 Package. These modifications, which can range from enhancing fabric performance insulation to integrating smart energy management systems, are pivotal in reducing a building's environmental footprint. They not only ensure compliance with the latest EU regulations but also significantly decrease operational costs and enhance the building's appeal to potential tenants and investors who prioritise sustainability.
MCA Architects: Pioneering Sustainable Solutions
As part of an integrated Design team, working in close partnership with the Building Services Engineers, Civil & Structural engineers and Cost Consultants, MCA can help guide you through the process of delivering a best in class building meeting all the desired targets.
MCA will drive the design team to assess the existing building identifying potential upgrades delivering the best returns for the environment and the Landlord. By analysing the interventions over the short medium and long term, and associated environmental and legislative targets, we can take the mystery away and help guide you on the right path.
Key to any deep refurbishment projects lie in increasing the value of the building. Value can be assessed and increased in many ways:
- Value of the building by its operational efficiency and impact on the environment, while aligning with tenant ESG requirements.
- Value in the social impact and cultural connection of the building with the people and the place in which it inhabits. We strive to create spaces in which people want to work and a community they want to be part of.
- Value of the building by increasing the floor area, improving the site utilisation while at the same time paying for the building upgrades.
40 Molesworth Street: IPUT salvaged and reused the original building, turning it into a landmark of character and architectural restraint.
Long-term Benefits of Green Retrofits
Implementing green retrofits positions commercial properties to be future-ready and resilient against more stringent regulations likely to emerge as the European Green Deal progresses. These enhancements not only cater to the current demands for energy efficiency and reduced carbon emissions but also set a precedent for long-term sustainability and profitability in the competitive real estate market.
Whether you are a construction consultant, investor, or developer, the team of qualified sustainability architects in MCA will help you in understanding how your properties can meet the ambitious targets of the European Green Deal through expert-led green retrofitting. Start your journey toward not just compliance, but leadership in a greener future for commercial real estate.