William Hill warns of abandoned buildings that fail to live up to sustainabilty standards
Government risks raising the bar too high for the sustainability of existing buildings, according to the head of property at investment bank Schroders.
Speaking to Building at Think 07, William Hill warned of an “urban desert of abandoned buildings” if regulations for the sustainability of existing stock are over-ambitious. “A subsection of the market could risk falling into a black hole,” he said.
In his speech at the “Beyond Environmental Tokenism” seminar, Hill told conference delegates: “Regulators must avoid setting the bar too high for sustainable buildings, or face a potential obsolescence of stock.”
He also warned of the dangers of rising costs for green technology: “Everyone wants to improve energy efficiency, but it has to be thought through,” he said. “If you’re pushing up costs with sustainability whilst at the same time attempting to deliver affordable housing, then something’s got to give.”