London’s greenest building, and why you should invest in a new-build

 

London is about to take a giant step to make the city a healthier place to be, and it could offer ideas for more eco-friendly new-build developments across the UK.

The City of London Corporation’s Planning and Transportation Committee has just approved an application submitted by Dominvs Group to build a mixed use development in Holborn. The plans are for an 11-storey development on a site at 61-65 Holborn Viaduct.

The façade of the new building will be covered by a ‘living green wall’ extending to a little less than 40,000 square feet. This will make the development the greenest building in London.

Consisting of over 400,000 plants and producing seven tonnes of oxygen each year, the building will extract nine tonnes of CO2 per annum.

Sustainability in the capital

Preet Ahluwalia, director at Dominvs Group, comments: “The green wall, which has been produced by Sheppard Robson architects and Phil Allen Design, will play a significant role in absorbing carbon dioxide and Dominvs is delighted be improving air quality and sustainability in the City of London.”

At present, the plans include a 382-bed hotel, 40,267 sq ft of office space and a landscaped public roof garden. Plans to add residential units in the future could be considered.

Alastair Moss, chair of the City of London Corporation’s Planning and Transportation Committee, says: “This development’s green wall of around 400,000 plants offers many environmental benefits such as reducing pollution, absorbing sound and reducing flood risk.”

Big changes in housing

As the government has committed to bringing the country’s greenhouse gas emissions to “almost zero” by 2050, the country – and world – as a whole is becoming increasingly eco-conscious and environmentally aware. The Holborn development in London is one of many innovative projects with a focus on being “green”.

For housebuilders and developers, this could spark some drastic changes in the industry over the coming years as more businesses recognise the need to keep up with the people’s desire for more action against climate change.

Property investors should also be mindful of these changes and the shift in people’s attitudes when considering their next investment. While new-build properties may be more expensive at the outset – although these costs can be lower if investing off-plan – such homes are likely to be much more future-proof than older properties.

This, of course, is partly down to the fact they are newer and therefore have lower maintenance and repair costs. However, new-builds also score significantly higher in their energy performance ratings, making them much more eco-friendly to run. For tenanted properties, the lower utility bills will be a massive draw, as well as the appeal of living in a draught-free house. And as more of the general public strive to live greener lives, this will undoubtedly prove to be an added selling point in the years to come.

At BuyAssociation, we have a range of UK-wide new-build projects available for investment, as well as off-plan developments. Take a look at our investments page and sign up for free to access more opportunities.

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London’s greenest building, and why you should invest in a new-build

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