At a time when there seems to be plenty of tension between landlords and tenants in the retail sector, this is a positive announcement, potentially marking a significant shift forward on green leasing.
In particular, the concept of a large landlord leveraging energy buying power to benefit its tenant (at no cost to the occupier) is a move to note. Perhaps we will see similar moves in the industry, particularly with the London estates?
On a more general note, this is increasing evidence that as sustainability motivations move up the occupier agenda, landlords may have to take a more pro-active approach in "greening" their product, leaving behind outdated thinking on leasing. Similar moves will inevitably follow, across the sectors.
Renowned florist Pulbrook & Gould has become the first retailer to sign a new ‘green’ lease with landlord Grosvenor Britain & Ireland aimed at driving down carbon emissions and improving air quality across Mayfair and Belgravia