Architect and Builder Magazine South Africa September/October 2013 | Page 17

GREENCOMPANY PARAGON ARCHITECTS Tel: [phone] E-mail: [email protected] Web: www.paragon.co.za Sage VIP Menlyn Maine, Epsilon The GBCSA has linked up with the International Property Databank (IPD), to include green features in their data collection. Listed property funds make annual submissions to the IPD survey, which now includes questions on greening initiatives, such as energy efficiency features of a building, and whether or not a building has a green rating, what that rating is, and which institution it is from. As the industry is in the early stages of research, Wilkinson is delighted to see that the research mantle is being taken up by young people at universities in South Africa. Universities including the University of Cape Town (UCT), the University of Witwatersrand (Wits) and the University of Pretoria, see the value of green buildings as an important area for further research. NEW GREEN THINKERS A group of students from the Engineering and Built Environment Faculty’s Construction Economics and Managent Department at UCT, produced their honours thesis on ‘Incorporating green building features and initaitives into commercial property valuation: Perceptions of South African Valuers’. The students, Emma Dawber, Ryan Flowers and Jennifer Wilkinson asked the question: How familiar is the South African valuation profession with green building, and are they are taking green building features and initiatives into account when calculating market value? Their research showed that despite the acknowledged importance of accounting for green building features and initiatives by valuers, actually incorporating them into valuations was perceived as unwarranted, owing to the infancy of the market, current economic climate and lack of market evidence. The study also notes that although green building features and initiatives are found to boost the economic value of a property, these elements need to be taken into account within the property valuation framework, to adequately measure their influence on property values. Having successfully completed a Four Star Green Star V1 Design rating for the 100,000sqm Alexander Forbes building, Paragon Architects is confident to incorporate their experience as standard practice in the design of future work. Sustainable design should be integrated with architectural design seamlessly rather than an option. STANDARD ELECTRICAL Tel: [phone] E-mail: info@ standardelectrical.co.za Web: www.standardelectrical.co.za Standard Electrical has been privileged to be involved in a number of the prestigious Green Star Rated Buildings in SA. Coupling extensive experience in electrical contracting with understanding of Green Building requirements has enabled it to be successful at this and be involved in these projects. Lakeside Office Park Block 3 Understanding the following factors will assist in a more accurate assessment of value for green buildings: • Life cycle costing and its effect on value; • The effect of lower building risk to capitalisation rates, discount rates and terminal yields; • Rental rates, lease structures, and growth in rents; • Lower operating costs and the net effect to the asset value; • The impact upon vacancy rates, tenant retention and lease incentives; • The financial impact of ‘soft’ gains such as increased productivity, improved morale and lower absenteeism; • The financial impact of reputational benefits such as improved corporate image and marketing benefits. Source: The Rands and Sense of Green Building Green Watch Aluglass Tel: 0861-ALUGLASS (258 452) E-mail: [email protected] Web: www.aluglass.co.za Solar control is crucial for an optimised working environment and in achieving a 5 star Green Star rating as per World Green Building Council rating system! Aluglass Bautech furnished the Standard Bank Building with a total of 122 solar control blinds, fully motorised ((SMI) and KNX control) allowing blinds to function entirely automated with no user to open or close them. 17