retail therapy: calculating intelligent investment & implementation strategies for minimum...
TRANSCRIPT
An Introduction to CO2 Estates
CO2 Estates Ltd
The Team and Advisory Board…
We consist of a team of experts in building science, engineering, software development and business management, and an advisory
board, including:
• Dr. Paul McNamara - former Director and Head of Research at PRUPIM (M&G Real Estate)
• Ian Marchant - former CEO of SSE from 2002 until he left the position as of 30 June 2013 (Investor)
• Dr. Katy Janda - interdisciplinary scholar and a senior researcher at the Energy Research Centre (Oxford, UK)
• Fred Siegele - former exec VP/general counsel of Advanced Delivery & Chemical Systems Inc. (Austin, TX)
Working with…
We are an early-stage technology company delivering software-driven solutions to enable the
continuous improvement of energy performance and management of risk across large, dynamic
property portfolios.
Retail therapy
CO2 Estates Ltd
• Challenges surrounding energy efficiency, specific to the retail sector exist:
- Regular physical changes to retail assets
- Divide between Landlord and Tenant domain is well defined
- The approach to assessment and modelling of stripped out units can place the Landlord unnecessarily at risk
- Initial fit-out by a new Tenant can result in variable energy efficiency levels within the context of MEES
Changing perspective…
CO2 Estates Ltd
Data Management
Energy efficiency assessment and modelling
Data quality
Modelling inputs Quality assurance
• Assessor competency
• Assessment instruction
• Top down guidance
• Auditing standards
• Big data benefits
• Transparency
CO2 Estates Ltd
Dilapidations
New Letting
Fitting Out
Management
Periodic Reviews
Existing Letting
Energy efficiency assessment and modelling
CO2 Estates Ltd
Dilapidations
New Letting
Fitting Out
Management
Periodic Reviews
Existing Letting
Assessor
competency
Assessment
instruction
Top down guidance
• Specific retail scenario guidance
• Assessment of shell and core
• Ad hoc assessor selection
• Urgent instruction
• Strategy dissemination
• Assumptions
• Mentality to assessment
• Retrofit recommendations
Energy efficiency assessment and modelling
CO2 Estates Ltd
Do I have an EPC?EPC is instructed
ahead of marketingNew letting Tenant fits-out
Energy assessor delivers
EPC
• Disjointed approach
• Worst case assumptions can place landlord in risk
• Best case assumptions can place the tenant in risk
• How is the middle ground defined when there isn’t an incoming tenant and proposed fit-out to assume?
• How can we ensure the energy model is representative of the new tenant fit-out?
Top down guidance
Energy efficiency assessment and modelling
CO2 Estates Ltd
Assessor
competency
“…assessors say failures have related to trivial errors
which either made no difference at all to the rating, or
made just one or two points difference, with no
change to the band.”
Energy efficiency assessment and modelling
Data quality
Modelling inputs Quality assurance
• Assessor competency
• Assessment instruction
• Top down guidance
• Auditing standards
• Big data benefits
• Transparency
CO2 Estates Ltd
Dilapidations
New Letting
Fitting Out
Management
Periodic Reviews
Existing Letting
Energy efficiency assessment and modelling
CO2 Estates Ltd
Quality assurance
Automated quality
audits
Pre-defined data
evidence hierarchyLeague of assessors
A tiered QA process, with
quality audits on 100% of
energy models using
technology to identify
default inputs.
Referencing a pool of big
data to identify anomalies.
Pre-defined data file
submissions to support
cross-checking between
digital site notes and
models.
Grading of assessors
based upon the outcome
of the QA process.
To enable quality
assessors to differentiate
themselves.
Collaborate or control?Dilapidations
New Letting
Fitting Out
Management
Periodic Reviews
Existing Letting
CO2 Estates Ltd
Fit-out scenarios simulated:
• Replace existing HVAC and lighting in line with Non-
domestic Compliance Guide 2013
• Replace existing HVAC and lighting in line with Part L2B & Non-domestic Heating and Cooling Compliance Guide, 2006
• Retain existing HVAC and replace lighting only in line with Non-domestic Compliance Guide 2013
• Retain existing HVAC and replace lighting only in line with
Part L2B & Non-domestic Heating and Cooling Compliance Guide, 2006
• Worst case scenarios
266.46 44.89 54.61 93.36 95.96 193.22 95.96 53.69 54.61 53.69 44.89 44.41
240.38 240.37 240.37 224.89 240.37 241.68 152.98 111.84 132.14 111.84 127.04 106.43
210.16 210.15 210.15 211.28 210.15 224.26 213.39 166.48 205.26 166.48 203.38 164.41
208.41 72.06 77.98 99.73 102.51 155.66 101.26 65.43 75.46 65.43 69.33 59.63
190.87 57.81 64.14 88.93 88.93 141.42 89.66 59.22 63.88 59.22 57.48 52.96
188.43 194.07 191.22 165.11 188.33 275.24 188.33 160.51 191.22 160.51 194.07 161.06
179.67 57.24 63.05 100.66 86.33 146.32 51.16 51.16 53.44 51.16 46.65 44.49
179.24 167.92 170.13 183.34 179.24 233.18 149.52 112.34 132.03 112.34 128.18 108.04
173.48 83.39 87.61 110.48 104.42 158.29 103.83 77.26 84.32 77.26 79.44 72.48
170.87 41.71 47.73 100.06 72.21 147.25 74.47 43.56 44.04 43.56 36.69 36.47
170.11 46.16 51.75 73.85 74.62 125.77 75.00 46.65 51.09 46.65 45.24 41.06
169.71 53.56 58.70 102.28 79.88 160.97 81.56 52.93 56.13 52.93 50.09 46.92
169.01 59.26 63.85 97.85 84.91 166.51 84.58 60.42 61.19 60.42 56.20 55.42
165.27 47.52 52.80 89.79 74.34 138.66 76.63 44.63 50.70 44.63 44.40 38.75
162.46 49.27 54.33 78.17 75.29 134.43 74.23 50.33 52.09 50.33 46.78 45.19
160.23 39.66 45.07 72.81 67.33 125.75 67.76 43.71 44.21 43.71 38.51 38.11
156.66 34.32 39.56 69.42 61.71 124.86 62.85 36.70 38.34 36.70 32.56 31.55
156.50 43.91 49.05 71.08 70.41 130.28 68.30 45.41 46.28 45.41 41.05 40.35
154.91 153.96 153.94 149.56 153.93 134.52 95.37 77.78 83.04 77.78 80.23 74.83
148.42 45.78 49.72 75.66 68.07 130.66 68.71 47.13 48.99 47.13 44.85 43.15
139.04 65.08 69.17 81.74 86.30 143.02 86.33 62.68 69.28 62.68 65.25 58.65
136.42 45.98 51.02 68.16 64.88 114.58 65.20 45.92 49.73 45.92 44.30 40.65
130.39 123.85 127.40 117.10 143.32 117.39 144.11 100.30 126.84 100.30 122.97 97.51
129.83 53.60 56.49 79.19 69.92 141.17 68.89 49.41 52.70 49.41 49.24 45.65
114.20 111.22 111.43 118.87 117.06 186.50 117.13 95.22 111.88 95.22 111.99 94.08
113.49 94.62 98.33 120.60 113.49 155.84 114.17 90.04 97.36 90.04 93.36 86.00
112.69 91.48 95.50 116.88 112.69 170.90 112.89 82.21 95.17 82.21 91.24 78.28
110.32 105.82 110.32 101.53 122.58 105.05 123.56 77.94 109.66 77.94 104.77 77.94
108.17 108.18 108.18 203.47 108.18 149.83 116.51 86.11 93.97 86.11 88.83 88.83
108.14 74.27 76.07 75.21 84.93 135.16 84.93 65.04 76.07 65.04 74.27 56.26
105.21 95.77 97.43 180.63 105.21 216.51 111.21 85.63 87.29 85.63 81.93 81.93
100.83 95.57 96.78 165.79 101.85 157.72 107.32 86.64 87.30 86.64 82.38 81.78
100.46 88.14 91.33 105.93 105.56 160.80 105.91 77.84 90.94 77.84 87.79 74.59
99.06 45.01 47.51 52.36 52.36 96.19 57.10 41.75 47.44 41.75 44.91 44.91
98.15 55.74 63.55 92.93 98.16 181.46 97.98 58.91 63.90 58.91 56.24 51.53
97.42 80.15 84.23 125.55 100.73 151.13 86.06 78.58 80.24 78.58 74.72 73.15
94.78 73.24 74.15 87.73 78.24 99.79 78.50 71.97 72.09 71.97 70.64 70.55
94.56 73.41 74.39 170.38 78.38 135.67 74.82 43.78 45.91 43.78 38.78 36.88
94.33 74.90 79.10 95.00 97.46 158.67 94.63 68.67 76.05 68.67 71.89 64.62
94.24 68.60 73.40 118.09 94.24 183.41 95.60 64.92 69.32 64.92 63.62 59.26
93.68 82.55 85.64 112.90 98.40 172.75 99.80 76.10 83.43 76.10 79.52 72.13
93.40 93.41 93.41 241.37 93.41 151.26 86.06 86.06 86.34 86.06 79.04 78.57
92.33 61.01 66.96 93.82 92.33 202.33 95.31 61.45 67.10 61.45 61.26 61.26
92.30 82.24 85.01 110.88 96.90 153.96 99.37 75.51 83.67 75.51 80.01 71.86
91.14 77.00 80.78 116.56 96.92 148.43 98.78 73.16 77.25 73.16 72.26 68.28
90.71 72.93 76.37 92.08 91.55 151.42 92.18 66.81 75.34 66.81 71.57 63.06
90.39 57.12 63.73 92.34 90.39 131.97 90.39 57.91 62.80 57.91 55.88 51.25
90.28 49.82 57.48 89.44 90.28 229.81 90.28 56.02 57.48 56.02 49.82 48.09
90.05 82.73 86.82 114.24 103.20 168.70 104.00 79.22 85.50 79.22 81.07 74.77
89.61 86.79 87.35 132.98 89.61 132.34 91.02 77.75 80.21 77.75 78.09 75.36
88.81 64.99 69.69 91.85 88.96 148.50 89.49 64.91 68.78 64.91 63.74 60.00
88.37 75.84 79.32 86.18 93.64 128.56 93.80 67.78 79.11 67.78 75.55 64.24
87.77 70.69 75.48 134.80 94.81 153.91 94.81 50.33 52.50 50.33 44.54 42.66
87.41 47.00 55.07 94.58 87.41 161.31 87.41 51.11 52.64 51.11 44.00 42.78
86.64 52.69 59.14 80.44 86.64 151.50 86.63 52.94 58.81 52.94 52.33 47.14
86.28 78.76 82.92 121.42 99.84 160.52 102.71 70.72 80.20 70.72 74.82 65.32
86.17 72.47 80.05 111.07 115.25 307.14 115.25 76.84 80.05 76.84 72.47 72.47
86.11 78.57 81.48 89.86 89.58 134.29 89.94 75.26 80.88 75.26 77.76 72.16
85.38 63.49 69.14 95.31 95.31 197.96 95.31 67.11 70.82 67.11 65.35 65.35
84.99 52.32 58.55 107.33 84.99 171.08 86.45 53.75 56.05 53.75 49.16 46.95
84.69 71.62 75.23 107.17 90.00 149.38 91.40 71.76 72.85 71.76 68.47 67.41
83.13 83.13 83.13 81.58 83.13 83.13 81.20 79.03 80.73 79.03 80.61 78.91
83.10 57.64 64.17 93.39 94.25 218.52 94.15 59.52 64.44 59.52 58.05 52.73
82.84 60.43 61.44 87.37 65.57 106.32 67.13 58.49 58.54 58.49 56.46 56.45
82.53 50.22 56.64 95.26 82.53 149.53 83.53 53.50 55.06 53.50 48.10 46.55
82.44 58.22 65.05 135.69 92.39 178.22 96.39 56.30 58.59 56.30 49.34 47.32
81.66 71.08 73.92 75.95 86.14 137.81 86.14 62.95 73.92 62.95 71.08 56.26
81.64 56.09 61.47 83.65 83.22 122.52 83.38 56.68 60.82 56.68 55.27 51.25
81.10 49.58 56.45 125.90 87.79 212.95 89.88 51.20 51.46 51.20 43.43 43.36
80.61 76.95 77.69 78.90 80.61 75.27 74.83 69.18 70.48 69.18 69.38 69.38
80.40 67.86 68.40 189.40 70.70 158.35 89.34 61.39 62.69 61.39 56.30 55.01
80.32 58.93 64.91 96.87 89.34 122.86 90.00 67.29 63.87 67.29 57.47 57.47
80.16 59.20 64.14 105.39 84.19 144.32 86.12 59.40 60.82 59.40 54.61 53.40
79.78 76.76 77.35 123.18 79.78 130.20 81.69 69.24 68.79 69.24 65.65 66.22
79.72 59.98 65.46 102.98 88.00 160.87 74.34 44.71 44.98 44.71 37.88 37.76
79.49 57.77 63.73 88.14 88.72 149.60 73.52 44.98 45.69 44.98 39.20 38.53
78.85 59.13 62.95 117.96 78.85 164.57 80.58 56.95 57.33 56.95 51.87 51.32
78.13 50.03 55.30 94.93 78.13 158.84 79.24 51.89 53.86 51.89 48.23 46.28
78.10 74.92 75.55 118.58 78.10 116.78 69.05 69.05 69.75 69.05 67.01 66.36
77.58 47.56 53.52 88.97 77.58 140.62 76.93 49.01 49.83 49.01 43.19 42.62
77.47 49.39 55.02 76.10 77.76 128.18 77.76 50.75 54.41 50.75 48.56 48.56
77.08 46.91 52.90 96.98 77.08 142.92 78.77 48.23 50.16 48.23 43.21 41.46
76.71 56.08 61.74 137.90 85.48 236.47 89.83 54.07 54.52 54.07 46.45 45.77
76.66 41.42 46.91 77.54 70.17 139.41 70.72 45.16 46.11 45.16 40.37 39.60
76.31 55.56 61.27 81.42 84.93 133.30 85.37 52.82 60.56 52.82 54.60 47.35
76.20 51.91 57.39 78.54 81.22 189.47 81.22 53.58 57.39 53.58 51.91 47.72
76.16 64.26 67.34 99.72 80.09 136.86 81.52 59.53 63.79 59.53 59.58 55.37
76.03 56.49 61.85 135.15 84.30 179.41 90.44 56.11 58.30 56.11 50.82 48.73
75.97 72.42 75.94 82.46 85.71 108.92 86.94 64.31 75.64 64.31 71.79 60.72
75.72 48.73 54.09 98.10 98.10 143.79 78.65 50.39 53.27 50.39 47.19 44.24
75.70 57.10 62.28 110.50 83.34 170.62 85.74 58.03 58.78 58.03 52.26 51.60
75.43 53.54 59.70 83.73 84.43 137.07 84.35 55.75 59.12 55.75 52.86 49.54
74.26 56.51 59.29 84.46 74.26 199.33 74.98 52.95 57.44 52.95 54.05 49.08
73.80 65.12 67.47 171.42 77.71 183.55 84.81 56.92 56.20 56.92 49.75 50.79
73.01 56.63 61.17 108.08 79.88 147.15 78.48 50.38 53.43 50.38 47.54 44.52
72.75 62.01 65.02 118.69 77.26 148.78 77.26 58.73 59.48 58.73 54.45 53.77
72.65 46.13 53.44 79.03 83.78 144.09 83.88 50.46 53.28 50.46 45.90 43.82
72.38 48.35 53.98 115.94 77.02 163.30 80.29 46.07 48.87 46.07 41.35 38.63
72.07 63.45 68.13 235.41 88.83 245.23 110.16 58.19 58.91 58.19 47.11 46.60
72.03 52.19 56.88 90.29 75.83 131.90 76.67 53.97 54.54 53.97 49.16 48.76
71.77 50.19 55.96 70.05 72.32 100.63 72.32 49.39 55.10 49.39 48.99 44.10
71.58 61.27 63.88 70.41 76.70 145.95 76.70 56.03 63.88 56.03 61.27 51.16
71.39 38.49 45.91 83.38 75.64 146.68 76.27 42.61 44.27 42.61 36.36 34.96
70.20 55.94 59.11 87.30 73.11 123.37 74.24 56.80 57.24 56.80 53.38 53.07
69.58 44.14 48.65 75.30 69.58 166.18 65.90 46.61 47.99 46.61 43.42 41.72
69.47 39.83 45.72 88.95 69.47 134.19 70.96 41.29 42.58 41.29 35.61 34.56
69.15 40.11 45.50 67.91 69.15 172.06 69.15 43.53 45.50 43.53 40.11 37.86
69.10 56.38 59.95 101.87 74.61 148.76 76.79 56.26 56.37 56.26 51.44 51.53
68.96 47.24 52.30 76.63 73.19 126.94 73.50 50.30 51.76 50.30 46.54 45.16
68.87 58.84 64.03 87.84 84.91 132.24 84.91 61.11 62.99 61.11 57.58 55.88
68.63 53.28 57.55 79.24 75.07 142.85 73.32 50.87 53.68 50.87 48.91 46.29
68.59 40.03 46.63 75.64 74.16 139.91 74.55 42.42 46.18 42.42 39.41 35.99
68.46 55.98 58.42 79.26 68.47 133.15 69.37 52.77 56.91 52.77 53.97 49.77
Collaborate or control?Dilapidations
New Letting
Fitting Out
Management
Periodic Reviews
Existing Letting
CO2 Estates Ltd
Complexity
Holistic approach
Collaborate or control?
CO2 Estates Ltd
0
25
50
75
100
125
150
175
CFL TemplateLighting Scenario
Part L2B 2013Lighting Scenario
Large Retail Park Unit
0
25
50
75
100
125
150
175
CFL TemplateLighting and HVAC
Scenario
Part L2B 2013Lighting and
Compliance GuideHVAC Scenario
Small High Street Unit
0
25
50
75
100
125
150
175
CFL TemplateLighting and HVAC
Scenario Compliance GuideHVAC Scenario
Part L2B 2013Lighting and
Compliance GuideHVAC Scenario
Medium Retail Park Unit
0
25
50
75
100
125
150
175
CFL TemplateLighting and HVAC
Scenario
Part L2B 2013Lighting and
Compliance GuideHVAC Scenario
Small Shopping Centre Unit
Non-Dom Compliance
Guide 2013 Lighting
CFL Template
Lighting
CFL Template
Lighting and NDCG
2013 HVAC
NDCG 2013
Lighting and HVAC
CFL Template
Lighting and NDCG
2013 HVAC
NDCG 2013
Lighting and HVAC
CFL Template
Lighting and NDCG
2013 HVAC
NDCG 2013
Lighting and HVAC
Part L2B 2006 Lighting
Part L2B 2006 Lighting &
HVAC
Part L2B 2006 Lighting &
HVAC
Part L2B 2006 Lighting &
HVAC
Collaborate or control?Dilapidations
New Letting
Fitting Out
Management
Periodic Reviews
Existing Letting
CO2 Estates Ltd
• SBEM version impact analysis:
8,000 building energy models simulated in approx. 8 hours by Carbon Estates
-20.00%
-10.00%
0.00%
10.00%
20.00%
30.00%
40.00%
Projected area-weighted change (2018)
Projected change between major versions(2018)
Change between major versions
Collaborate or control?Dilapidations
New Letting
Fitting Out
Management
Periodic Reviews
Existing Letting
CO2 Estates Ltd
266.46 44.89 54.61 93.36 95.96 193.22 95.96 53.69 54.61 53.69 44.89 44.41
240.38 240.37 240.37 224.89 240.37 241.68 152.98 111.84 132.14 111.84 127.04 106.43
210.16 210.15 210.15 211.28 210.15 224.26 213.39 166.48 205.26 166.48 203.38 164.41
208.41 72.06 77.98 99.73 102.51 155.66 101.26 65.43 75.46 65.43 69.33 59.63
190.87 57.81 64.14 88.93 88.93 141.42 89.66 59.22 63.88 59.22 57.48 52.96
188.43 194.07 191.22 165.11 188.33 275.24 188.33 160.51 191.22 160.51 194.07 161.06
179.67 57.24 63.05 100.66 86.33 146.32 51.16 51.16 53.44 51.16 46.65 44.49
179.24 167.92 170.13 183.34 179.24 233.18 149.52 112.34 132.03 112.34 128.18 108.04
173.48 83.39 87.61 110.48 104.42 158.29 103.83 77.26 84.32 77.26 79.44 72.48
170.87 41.71 47.73 100.06 72.21 147.25 74.47 43.56 44.04 43.56 36.69 36.47
170.11 46.16 51.75 73.85 74.62 125.77 75.00 46.65 51.09 46.65 45.24 41.06
169.71 53.56 58.70 102.28 79.88 160.97 81.56 52.93 56.13 52.93 50.09 46.92
169.01 59.26 63.85 97.85 84.91 166.51 84.58 60.42 61.19 60.42 56.20 55.42
165.27 47.52 52.80 89.79 74.34 138.66 76.63 44.63 50.70 44.63 44.40 38.75
162.46 49.27 54.33 78.17 75.29 134.43 74.23 50.33 52.09 50.33 46.78 45.19
160.23 39.66 45.07 72.81 67.33 125.75 67.76 43.71 44.21 43.71 38.51 38.11
156.66 34.32 39.56 69.42 61.71 124.86 62.85 36.70 38.34 36.70 32.56 31.55
156.50 43.91 49.05 71.08 70.41 130.28 68.30 45.41 46.28 45.41 41.05 40.35
154.91 153.96 153.94 149.56 153.93 134.52 95.37 77.78 83.04 77.78 80.23 74.83
148.42 45.78 49.72 75.66 68.07 130.66 68.71 47.13 48.99 47.13 44.85 43.15
139.04 65.08 69.17 81.74 86.30 143.02 86.33 62.68 69.28 62.68 65.25 58.65
136.42 45.98 51.02 68.16 64.88 114.58 65.20 45.92 49.73 45.92 44.30 40.65
130.39 123.85 127.40 117.10 143.32 117.39 144.11 100.30 126.84 100.30 122.97 97.51
129.83 53.60 56.49 79.19 69.92 141.17 68.89 49.41 52.70 49.41 49.24 45.65
114.20 111.22 111.43 118.87 117.06 186.50 117.13 95.22 111.88 95.22 111.99 94.08
113.49 94.62 98.33 120.60 113.49 155.84 114.17 90.04 97.36 90.04 93.36 86.00
112.69 91.48 95.50 116.88 112.69 170.90 112.89 82.21 95.17 82.21 91.24 78.28
110.32 105.82 110.32 101.53 122.58 105.05 123.56 77.94 109.66 77.94 104.77 77.94
108.17 108.18 108.18 203.47 108.18 149.83 116.51 86.11 93.97 86.11 88.83 88.83
108.14 74.27 76.07 75.21 84.93 135.16 84.93 65.04 76.07 65.04 74.27 56.26
105.21 95.77 97.43 180.63 105.21 216.51 111.21 85.63 87.29 85.63 81.93 81.93
100.83 95.57 96.78 165.79 101.85 157.72 107.32 86.64 87.30 86.64 82.38 81.78
100.46 88.14 91.33 105.93 105.56 160.80 105.91 77.84 90.94 77.84 87.79 74.59
99.06 45.01 47.51 52.36 52.36 96.19 57.10 41.75 47.44 41.75 44.91 44.91
98.15 55.74 63.55 92.93 98.16 181.46 97.98 58.91 63.90 58.91 56.24 51.53
97.42 80.15 84.23 125.55 100.73 151.13 86.06 78.58 80.24 78.58 74.72 73.15
94.78 73.24 74.15 87.73 78.24 99.79 78.50 71.97 72.09 71.97 70.64 70.55
94.56 73.41 74.39 170.38 78.38 135.67 74.82 43.78 45.91 43.78 38.78 36.88
94.33 74.90 79.10 95.00 97.46 158.67 94.63 68.67 76.05 68.67 71.89 64.62
94.24 68.60 73.40 118.09 94.24 183.41 95.60 64.92 69.32 64.92 63.62 59.26
93.68 82.55 85.64 112.90 98.40 172.75 99.80 76.10 83.43 76.10 79.52 72.13
93.40 93.41 93.41 241.37 93.41 151.26 86.06 86.06 86.34 86.06 79.04 78.57
92.33 61.01 66.96 93.82 92.33 202.33 95.31 61.45 67.10 61.45 61.26 61.26
92.30 82.24 85.01 110.88 96.90 153.96 99.37 75.51 83.67 75.51 80.01 71.86
91.14 77.00 80.78 116.56 96.92 148.43 98.78 73.16 77.25 73.16 72.26 68.28
90.71 72.93 76.37 92.08 91.55 151.42 92.18 66.81 75.34 66.81 71.57 63.06
90.39 57.12 63.73 92.34 90.39 131.97 90.39 57.91 62.80 57.91 55.88 51.25
90.28 49.82 57.48 89.44 90.28 229.81 90.28 56.02 57.48 56.02 49.82 48.09
90.05 82.73 86.82 114.24 103.20 168.70 104.00 79.22 85.50 79.22 81.07 74.77
89.61 86.79 87.35 132.98 89.61 132.34 91.02 77.75 80.21 77.75 78.09 75.36
88.81 64.99 69.69 91.85 88.96 148.50 89.49 64.91 68.78 64.91 63.74 60.00
88.37 75.84 79.32 86.18 93.64 128.56 93.80 67.78 79.11 67.78 75.55 64.24
87.77 70.69 75.48 134.80 94.81 153.91 94.81 50.33 52.50 50.33 44.54 42.66
87.41 47.00 55.07 94.58 87.41 161.31 87.41 51.11 52.64 51.11 44.00 42.78
86.64 52.69 59.14 80.44 86.64 151.50 86.63 52.94 58.81 52.94 52.33 47.14
86.28 78.76 82.92 121.42 99.84 160.52 102.71 70.72 80.20 70.72 74.82 65.32
86.17 72.47 80.05 111.07 115.25 307.14 115.25 76.84 80.05 76.84 72.47 72.47
86.11 78.57 81.48 89.86 89.58 134.29 89.94 75.26 80.88 75.26 77.76 72.16
85.38 63.49 69.14 95.31 95.31 197.96 95.31 67.11 70.82 67.11 65.35 65.35
84.99 52.32 58.55 107.33 84.99 171.08 86.45 53.75 56.05 53.75 49.16 46.95
84.69 71.62 75.23 107.17 90.00 149.38 91.40 71.76 72.85 71.76 68.47 67.41
83.13 83.13 83.13 81.58 83.13 83.13 81.20 79.03 80.73 79.03 80.61 78.91
83.10 57.64 64.17 93.39 94.25 218.52 94.15 59.52 64.44 59.52 58.05 52.73
82.84 60.43 61.44 87.37 65.57 106.32 67.13 58.49 58.54 58.49 56.46 56.45
82.53 50.22 56.64 95.26 82.53 149.53 83.53 53.50 55.06 53.50 48.10 46.55
82.44 58.22 65.05 135.69 92.39 178.22 96.39 56.30 58.59 56.30 49.34 47.32
81.66 71.08 73.92 75.95 86.14 137.81 86.14 62.95 73.92 62.95 71.08 56.26
81.64 56.09 61.47 83.65 83.22 122.52 83.38 56.68 60.82 56.68 55.27 51.25
81.10 49.58 56.45 125.90 87.79 212.95 89.88 51.20 51.46 51.20 43.43 43.36
80.61 76.95 77.69 78.90 80.61 75.27 74.83 69.18 70.48 69.18 69.38 69.38
80.40 67.86 68.40 189.40 70.70 158.35 89.34 61.39 62.69 61.39 56.30 55.01
80.32 58.93 64.91 96.87 89.34 122.86 90.00 67.29 63.87 67.29 57.47 57.47
80.16 59.20 64.14 105.39 84.19 144.32 86.12 59.40 60.82 59.40 54.61 53.40
79.78 76.76 77.35 123.18 79.78 130.20 81.69 69.24 68.79 69.24 65.65 66.22
79.72 59.98 65.46 102.98 88.00 160.87 74.34 44.71 44.98 44.71 37.88 37.76
79.49 57.77 63.73 88.14 88.72 149.60 73.52 44.98 45.69 44.98 39.20 38.53
78.85 59.13 62.95 117.96 78.85 164.57 80.58 56.95 57.33 56.95 51.87 51.32
78.13 50.03 55.30 94.93 78.13 158.84 79.24 51.89 53.86 51.89 48.23 46.28
78.10 74.92 75.55 118.58 78.10 116.78 69.05 69.05 69.75 69.05 67.01 66.36
77.58 47.56 53.52 88.97 77.58 140.62 76.93 49.01 49.83 49.01 43.19 42.62
77.47 49.39 55.02 76.10 77.76 128.18 77.76 50.75 54.41 50.75 48.56 48.56
77.08 46.91 52.90 96.98 77.08 142.92 78.77 48.23 50.16 48.23 43.21 41.46
76.71 56.08 61.74 137.90 85.48 236.47 89.83 54.07 54.52 54.07 46.45 45.77
76.66 41.42 46.91 77.54 70.17 139.41 70.72 45.16 46.11 45.16 40.37 39.60
76.31 55.56 61.27 81.42 84.93 133.30 85.37 52.82 60.56 52.82 54.60 47.35
76.20 51.91 57.39 78.54 81.22 189.47 81.22 53.58 57.39 53.58 51.91 47.72
76.16 64.26 67.34 99.72 80.09 136.86 81.52 59.53 63.79 59.53 59.58 55.37
76.03 56.49 61.85 135.15 84.30 179.41 90.44 56.11 58.30 56.11 50.82 48.73
75.97 72.42 75.94 82.46 85.71 108.92 86.94 64.31 75.64 64.31 71.79 60.72
75.72 48.73 54.09 98.10 98.10 143.79 78.65 50.39 53.27 50.39 47.19 44.24
75.70 57.10 62.28 110.50 83.34 170.62 85.74 58.03 58.78 58.03 52.26 51.60
75.43 53.54 59.70 83.73 84.43 137.07 84.35 55.75 59.12 55.75 52.86 49.54
74.26 56.51 59.29 84.46 74.26 199.33 74.98 52.95 57.44 52.95 54.05 49.08
73.80 65.12 67.47 171.42 77.71 183.55 84.81 56.92 56.20 56.92 49.75 50.79
73.01 56.63 61.17 108.08 79.88 147.15 78.48 50.38 53.43 50.38 47.54 44.52
72.75 62.01 65.02 118.69 77.26 148.78 77.26 58.73 59.48 58.73 54.45 53.77
72.65 46.13 53.44 79.03 83.78 144.09 83.88 50.46 53.28 50.46 45.90 43.82
72.38 48.35 53.98 115.94 77.02 163.30 80.29 46.07 48.87 46.07 41.35 38.63
72.07 63.45 68.13 235.41 88.83 245.23 110.16 58.19 58.91 58.19 47.11 46.60
72.03 52.19 56.88 90.29 75.83 131.90 76.67 53.97 54.54 53.97 49.16 48.76
71.77 50.19 55.96 70.05 72.32 100.63 72.32 49.39 55.10 49.39 48.99 44.10
71.58 61.27 63.88 70.41 76.70 145.95 76.70 56.03 63.88 56.03 61.27 51.16
71.39 38.49 45.91 83.38 75.64 146.68 76.27 42.61 44.27 42.61 36.36 34.96
70.20 55.94 59.11 87.30 73.11 123.37 74.24 56.80 57.24 56.80 53.38 53.07
69.58 44.14 48.65 75.30 69.58 166.18 65.90 46.61 47.99 46.61 43.42 41.72
69.47 39.83 45.72 88.95 69.47 134.19 70.96 41.29 42.58 41.29 35.61 34.56
69.15 40.11 45.50 67.91 69.15 172.06 69.15 43.53 45.50 43.53 40.11 37.86
69.10 56.38 59.95 101.87 74.61 148.76 76.79 56.26 56.37 56.26 51.44 51.53
68.96 47.24 52.30 76.63 73.19 126.94 73.50 50.30 51.76 50.30 46.54 45.16
68.87 58.84 64.03 87.84 84.91 132.24 84.91 61.11 62.99 61.11 57.58 55.88
68.63 53.28 57.55 79.24 75.07 142.85 73.32 50.87 53.68 50.87 48.91 46.29
68.59 40.03 46.63 75.64 74.16 139.91 74.55 42.42 46.18 42.42 39.41 35.99
68.46 55.98 58.42 79.26 68.47 133.15 69.37 52.77 56.91 52.77 53.97 49.77
Collaborate or control?Dilapidations
New Letting
Fitting Out
Management
Periodic Reviews
Existing Letting
CO2 Estates Ltd
266.46 44.89 54.61 93.36 95.96 193.22 95.96 53.69 54.61 53.69 44.89 44.41
240.38 240.37 240.37 224.89 240.37 241.68 152.98 111.84 132.14 111.84 127.04 106.43
210.16 210.15 210.15 211.28 210.15 224.26 213.39 166.48 205.26 166.48 203.38 164.41
208.41 72.06 77.98 99.73 102.51 155.66 101.26 65.43 75.46 65.43 69.33 59.63
190.87 57.81 64.14 88.93 88.93 141.42 89.66 59.22 63.88 59.22 57.48 52.96
188.43 194.07 191.22 165.11 188.33 275.24 188.33 160.51 191.22 160.51 194.07 161.06
179.67 57.24 63.05 100.66 86.33 146.32 51.16 51.16 53.44 51.16 46.65 44.49
179.24 167.92 170.13 183.34 179.24 233.18 149.52 112.34 132.03 112.34 128.18 108.04
173.48 83.39 87.61 110.48 104.42 158.29 103.83 77.26 84.32 77.26 79.44 72.48
170.87 41.71 47.73 100.06 72.21 147.25 74.47 43.56 44.04 43.56 36.69 36.47
170.11 46.16 51.75 73.85 74.62 125.77 75.00 46.65 51.09 46.65 45.24 41.06
169.71 53.56 58.70 102.28 79.88 160.97 81.56 52.93 56.13 52.93 50.09 46.92
169.01 59.26 63.85 97.85 84.91 166.51 84.58 60.42 61.19 60.42 56.20 55.42
165.27 47.52 52.80 89.79 74.34 138.66 76.63 44.63 50.70 44.63 44.40 38.75
162.46 49.27 54.33 78.17 75.29 134.43 74.23 50.33 52.09 50.33 46.78 45.19
160.23 39.66 45.07 72.81 67.33 125.75 67.76 43.71 44.21 43.71 38.51 38.11
156.66 34.32 39.56 69.42 61.71 124.86 62.85 36.70 38.34 36.70 32.56 31.55
156.50 43.91 49.05 71.08 70.41 130.28 68.30 45.41 46.28 45.41 41.05 40.35
154.91 153.96 153.94 149.56 153.93 134.52 95.37 77.78 83.04 77.78 80.23 74.83
148.42 45.78 49.72 75.66 68.07 130.66 68.71 47.13 48.99 47.13 44.85 43.15
139.04 65.08 69.17 81.74 86.30 143.02 86.33 62.68 69.28 62.68 65.25 58.65
136.42 45.98 51.02 68.16 64.88 114.58 65.20 45.92 49.73 45.92 44.30 40.65
130.39 123.85 127.40 117.10 143.32 117.39 144.11 100.30 126.84 100.30 122.97 97.51
129.83 53.60 56.49 79.19 69.92 141.17 68.89 49.41 52.70 49.41 49.24 45.65
114.20 111.22 111.43 118.87 117.06 186.50 117.13 95.22 111.88 95.22 111.99 94.08
113.49 94.62 98.33 120.60 113.49 155.84 114.17 90.04 97.36 90.04 93.36 86.00
112.69 91.48 95.50 116.88 112.69 170.90 112.89 82.21 95.17 82.21 91.24 78.28
110.32 105.82 110.32 101.53 122.58 105.05 123.56 77.94 109.66 77.94 104.77 77.94
108.17 108.18 108.18 203.47 108.18 149.83 116.51 86.11 93.97 86.11 88.83 88.83
108.14 74.27 76.07 75.21 84.93 135.16 84.93 65.04 76.07 65.04 74.27 56.26
105.21 95.77 97.43 180.63 105.21 216.51 111.21 85.63 87.29 85.63 81.93 81.93
100.83 95.57 96.78 165.79 101.85 157.72 107.32 86.64 87.30 86.64 82.38 81.78
100.46 88.14 91.33 105.93 105.56 160.80 105.91 77.84 90.94 77.84 87.79 74.59
99.06 45.01 47.51 52.36 52.36 96.19 57.10 41.75 47.44 41.75 44.91 44.91
98.15 55.74 63.55 92.93 98.16 181.46 97.98 58.91 63.90 58.91 56.24 51.53
97.42 80.15 84.23 125.55 100.73 151.13 86.06 78.58 80.24 78.58 74.72 73.15
94.78 73.24 74.15 87.73 78.24 99.79 78.50 71.97 72.09 71.97 70.64 70.55
94.56 73.41 74.39 170.38 78.38 135.67 74.82 43.78 45.91 43.78 38.78 36.88
94.33 74.90 79.10 95.00 97.46 158.67 94.63 68.67 76.05 68.67 71.89 64.62
94.24 68.60 73.40 118.09 94.24 183.41 95.60 64.92 69.32 64.92 63.62 59.26
93.68 82.55 85.64 112.90 98.40 172.75 99.80 76.10 83.43 76.10 79.52 72.13
93.40 93.41 93.41 241.37 93.41 151.26 86.06 86.06 86.34 86.06 79.04 78.57
92.33 61.01 66.96 93.82 92.33 202.33 95.31 61.45 67.10 61.45 61.26 61.26
92.30 82.24 85.01 110.88 96.90 153.96 99.37 75.51 83.67 75.51 80.01 71.86
91.14 77.00 80.78 116.56 96.92 148.43 98.78 73.16 77.25 73.16 72.26 68.28
90.71 72.93 76.37 92.08 91.55 151.42 92.18 66.81 75.34 66.81 71.57 63.06
90.39 57.12 63.73 92.34 90.39 131.97 90.39 57.91 62.80 57.91 55.88 51.25
90.28 49.82 57.48 89.44 90.28 229.81 90.28 56.02 57.48 56.02 49.82 48.09
90.05 82.73 86.82 114.24 103.20 168.70 104.00 79.22 85.50 79.22 81.07 74.77
89.61 86.79 87.35 132.98 89.61 132.34 91.02 77.75 80.21 77.75 78.09 75.36
88.81 64.99 69.69 91.85 88.96 148.50 89.49 64.91 68.78 64.91 63.74 60.00
88.37 75.84 79.32 86.18 93.64 128.56 93.80 67.78 79.11 67.78 75.55 64.24
87.77 70.69 75.48 134.80 94.81 153.91 94.81 50.33 52.50 50.33 44.54 42.66
87.41 47.00 55.07 94.58 87.41 161.31 87.41 51.11 52.64 51.11 44.00 42.78
86.64 52.69 59.14 80.44 86.64 151.50 86.63 52.94 58.81 52.94 52.33 47.14
86.28 78.76 82.92 121.42 99.84 160.52 102.71 70.72 80.20 70.72 74.82 65.32
86.17 72.47 80.05 111.07 115.25 307.14 115.25 76.84 80.05 76.84 72.47 72.47
86.11 78.57 81.48 89.86 89.58 134.29 89.94 75.26 80.88 75.26 77.76 72.16
85.38 63.49 69.14 95.31 95.31 197.96 95.31 67.11 70.82 67.11 65.35 65.35
84.99 52.32 58.55 107.33 84.99 171.08 86.45 53.75 56.05 53.75 49.16 46.95
84.69 71.62 75.23 107.17 90.00 149.38 91.40 71.76 72.85 71.76 68.47 67.41
83.13 83.13 83.13 81.58 83.13 83.13 81.20 79.03 80.73 79.03 80.61 78.91
83.10 57.64 64.17 93.39 94.25 218.52 94.15 59.52 64.44 59.52 58.05 52.73
82.84 60.43 61.44 87.37 65.57 106.32 67.13 58.49 58.54 58.49 56.46 56.45
82.53 50.22 56.64 95.26 82.53 149.53 83.53 53.50 55.06 53.50 48.10 46.55
82.44 58.22 65.05 135.69 92.39 178.22 96.39 56.30 58.59 56.30 49.34 47.32
81.66 71.08 73.92 75.95 86.14 137.81 86.14 62.95 73.92 62.95 71.08 56.26
81.64 56.09 61.47 83.65 83.22 122.52 83.38 56.68 60.82 56.68 55.27 51.25
81.10 49.58 56.45 125.90 87.79 212.95 89.88 51.20 51.46 51.20 43.43 43.36
80.61 76.95 77.69 78.90 80.61 75.27 74.83 69.18 70.48 69.18 69.38 69.38
80.40 67.86 68.40 189.40 70.70 158.35 89.34 61.39 62.69 61.39 56.30 55.01
80.32 58.93 64.91 96.87 89.34 122.86 90.00 67.29 63.87 67.29 57.47 57.47
80.16 59.20 64.14 105.39 84.19 144.32 86.12 59.40 60.82 59.40 54.61 53.40
79.78 76.76 77.35 123.18 79.78 130.20 81.69 69.24 68.79 69.24 65.65 66.22
79.72 59.98 65.46 102.98 88.00 160.87 74.34 44.71 44.98 44.71 37.88 37.76
79.49 57.77 63.73 88.14 88.72 149.60 73.52 44.98 45.69 44.98 39.20 38.53
78.85 59.13 62.95 117.96 78.85 164.57 80.58 56.95 57.33 56.95 51.87 51.32
78.13 50.03 55.30 94.93 78.13 158.84 79.24 51.89 53.86 51.89 48.23 46.28
78.10 74.92 75.55 118.58 78.10 116.78 69.05 69.05 69.75 69.05 67.01 66.36
77.58 47.56 53.52 88.97 77.58 140.62 76.93 49.01 49.83 49.01 43.19 42.62
77.47 49.39 55.02 76.10 77.76 128.18 77.76 50.75 54.41 50.75 48.56 48.56
77.08 46.91 52.90 96.98 77.08 142.92 78.77 48.23 50.16 48.23 43.21 41.46
76.71 56.08 61.74 137.90 85.48 236.47 89.83 54.07 54.52 54.07 46.45 45.77
76.66 41.42 46.91 77.54 70.17 139.41 70.72 45.16 46.11 45.16 40.37 39.60
76.31 55.56 61.27 81.42 84.93 133.30 85.37 52.82 60.56 52.82 54.60 47.35
76.20 51.91 57.39 78.54 81.22 189.47 81.22 53.58 57.39 53.58 51.91 47.72
76.16 64.26 67.34 99.72 80.09 136.86 81.52 59.53 63.79 59.53 59.58 55.37
76.03 56.49 61.85 135.15 84.30 179.41 90.44 56.11 58.30 56.11 50.82 48.73
75.97 72.42 75.94 82.46 85.71 108.92 86.94 64.31 75.64 64.31 71.79 60.72
75.72 48.73 54.09 98.10 98.10 143.79 78.65 50.39 53.27 50.39 47.19 44.24
75.70 57.10 62.28 110.50 83.34 170.62 85.74 58.03 58.78 58.03 52.26 51.60
75.43 53.54 59.70 83.73 84.43 137.07 84.35 55.75 59.12 55.75 52.86 49.54
74.26 56.51 59.29 84.46 74.26 199.33 74.98 52.95 57.44 52.95 54.05 49.08
73.80 65.12 67.47 171.42 77.71 183.55 84.81 56.92 56.20 56.92 49.75 50.79
73.01 56.63 61.17 108.08 79.88 147.15 78.48 50.38 53.43 50.38 47.54 44.52
72.75 62.01 65.02 118.69 77.26 148.78 77.26 58.73 59.48 58.73 54.45 53.77
72.65 46.13 53.44 79.03 83.78 144.09 83.88 50.46 53.28 50.46 45.90 43.82
72.38 48.35 53.98 115.94 77.02 163.30 80.29 46.07 48.87 46.07 41.35 38.63
72.07 63.45 68.13 235.41 88.83 245.23 110.16 58.19 58.91 58.19 47.11 46.60
72.03 52.19 56.88 90.29 75.83 131.90 76.67 53.97 54.54 53.97 49.16 48.76
71.77 50.19 55.96 70.05 72.32 100.63 72.32 49.39 55.10 49.39 48.99 44.10
71.58 61.27 63.88 70.41 76.70 145.95 76.70 56.03 63.88 56.03 61.27 51.16
71.39 38.49 45.91 83.38 75.64 146.68 76.27 42.61 44.27 42.61 36.36 34.96
70.20 55.94 59.11 87.30 73.11 123.37 74.24 56.80 57.24 56.80 53.38 53.07
69.58 44.14 48.65 75.30 69.58 166.18 65.90 46.61 47.99 46.61 43.42 41.72
69.47 39.83 45.72 88.95 69.47 134.19 70.96 41.29 42.58 41.29 35.61 34.56
69.15 40.11 45.50 67.91 69.15 172.06 69.15 43.53 45.50 43.53 40.11 37.86
69.10 56.38 59.95 101.87 74.61 148.76 76.79 56.26 56.37 56.26 51.44 51.53
68.96 47.24 52.30 76.63 73.19 126.94 73.50 50.30 51.76 50.30 46.54 45.16
68.87 58.84 64.03 87.84 84.91 132.24 84.91 61.11 62.99 61.11 57.58 55.88
68.63 53.28 57.55 79.24 75.07 142.85 73.32 50.87 53.68 50.87 48.91 46.29
68.59 40.03 46.63 75.64 74.16 139.91 74.55 42.42 46.18 42.42 39.41 35.99
68.46 55.98 58.42 79.26 68.47 133.15 69.37 52.77 56.91 52.77 53.97 49.77
337.69 56.88 69.21 118.31 121.61 244.87 121.61 68.04 69.21 68.04 56.88 56.29
304.63 304.62 304.62 285.01 304.62 306.28 193.88 141.74 167.46 141.74 160.99 134.88
266.33 266.33 266.33 267.76 266.33 284.20 270.43 210.98 260.12 210.98 257.75 208.36
264.12 91.33 98.83 126.38 129.91 197.27 128.33 82.91 95.63 82.91 87.86 75.57
241.90 73.27 81.28 112.70 112.70 179.22 113.62 75.05 80.96 75.05 72.85 67.12
238.80 245.94 242.34 209.24 238.67 348.81 238.67 203.42 242.34 203.42 245.94 204.11
227.70 72.54 79.90 127.56 109.40 185.43 64.83 64.83 67.73 64.83 59.12 56.38
227.15 212.80 215.61 232.34 227.15 295.51 189.49 142.37 167.32 142.37 162.44 136.92
219.85 105.68 111.03 140.01 132.33 200.59 131.59 97.91 106.86 97.91 100.68 91.86
216.54 52.85 60.49 126.81 91.51 186.62 94.38 55.20 55.82 55.20 46.50 46.22
215.58 58.50 65.58 93.58 94.56 159.39 95.05 59.12 64.75 59.12 57.34 52.04
215.08 67.87 74.39 129.62 101.23 204.00 103.37 67.08 71.14 67.08 63.48 59.46
214.19 75.09 80.92 124.00 107.60 211.02 107.18 76.57 77.55 76.57 71.22 70.23
209.45 60.22 66.91 113.79 94.21 175.72 97.11 56.56 64.25 56.56 56.27 49.11
205.88 62.44 68.85 99.07 95.41 170.37 94.07 63.78 66.01 63.78 59.28 57.27
203.06 50.26 57.11 92.27 85.32 159.36 85.87 55.39 56.03 55.39 48.80 48.29
198.53 43.49 50.13 87.98 78.20 158.24 79.65 46.52 48.58 46.52 41.26 39.98
198.33 55.65 62.16 90.08 89.23 165.10 86.56 57.55 58.65 57.55 52.02 51.13
196.32 195.12 195.09 189.54 195.08 170.48 120.87 98.58 105.24 98.58 101.68 94.83
188.09 58.02 63.01 95.89 86.27 165.59 87.08 59.72 62.08 59.72 56.83 54.68
176.20 82.47 87.65 103.59 109.37 181.26 109.41 79.44 87.80 79.44 82.69 74.33
172.89 58.27 64.66 86.38 82.22 145.20 82.63 58.19 63.03 58.19 56.15 51.52
165.24 156.96 161.45 148.40 181.63 148.76 182.63 127.11 160.74 127.11 155.83 123.58
164.54 67.93 71.58 100.36 88.61 178.91 87.30 62.62 66.79 62.62 62.40 57.85
144.72 140.95 141.21 150.64 148.34 236.36 148.43 120.67 141.78 120.67 141.93 119.23
143.83 119.92 124.61 152.84 143.83 197.50 144.69 114.11 123.39 114.11 118.32 108.99
142.82 115.93 121.03 148.12 142.82 216.58 143.06 104.18 120.61 104.18 115.63 99.20
139.81 134.11 139.81 128.66 155.34 133.13 156.59 98.77 138.98 98.77 132.78 98.77
137.08 137.09 137.09 257.86 137.09 189.88 147.65 109.13 119.09 109.13 112.57 112.57
137.04 94.12 96.41 95.31 107.63 171.28 107.63 82.43 96.41 82.43 94.12 71.30
133.34 121.37 123.47 228.91 133.34 274.39 140.93 108.52 110.62 108.52 103.83 103.83
127.78 121.11 122.65 210.11 129.08 199.88 136.01 109.80 110.63 109.80 104.40 103.64
127.31 111.70 115.74 134.24 133.78 203.79 134.22 98.65 115.25 98.65 111.26 94.53
125.54 57.04 60.21 66.36 66.36 121.90 72.36 52.91 60.12 52.91 56.91 56.91
124.39 70.64 80.54 117.77 124.39 229.97 124.17 74.65 80.98 74.65 71.27 65.31
123.45 101.58 106.75 159.10 127.65 191.52 109.07 99.59 101.68 99.59 94.69 92.71
120.12 92.81 93.97 111.18 99.16 126.47 99.48 91.21 91.36 91.21 89.52 89.40
119.83 93.04 94.28 215.92 99.33 171.94 94.82 55.48 58.19 55.48 49.15 46.74
119.55 94.92 100.25 120.39 123.51 201.08 119.93 87.02 96.37 87.02 91.10 81.90
119.43 86.93 93.02 149.65 119.43 232.43 121.16 82.27 87.85 82.27 80.62 75.10
118.72 104.62 108.53 143.08 124.70 218.92 126.47 96.44 105.73 96.44 100.77 91.41
118.37 118.38 118.38 305.89 118.38 191.69 109.07 109.07 109.42 109.07 100.17 99.57
117.01 77.32 84.86 118.89 117.01 256.41 120.78 77.88 85.03 77.88 77.63 77.63
116.97 104.23 107.73 140.51 122.80 195.12 125.93 95.70 106.03 95.70 101.39 91.07
115.50 97.59 102.37 147.72 122.83 188.10 125.18 92.71 97.91 92.71 91.57 86.53
114.96 92.42 96.78 116.70 116.02 191.89 116.82 84.67 95.48 84.67 90.70 79.91
114.55 72.39 80.76 117.02 114.55 167.24 114.55 73.39 79.59 73.39 70.81 64.95
114.41 63.13 72.85 113.35 114.41 291.24 114.41 71.00 72.85 71.00 63.13 60.95
114.12 104.84 110.02 144.77 130.78 213.79 131.80 100.39 108.35 100.39 102.74 94.76
113.56 109.99 110.70 168.53 113.56 167.72 115.34 98.53 101.66 98.53 98.96 95.50
112.55 82.36 88.31 116.40 112.74 188.20 113.41 82.26 87.17 82.26 80.78 76.04
111.99 96.11 100.52 109.22 118.67 162.93 118.87 85.89 100.25 85.89 95.74 81.41
111.23 89.58 95.66 170.83 120.15 195.05 120.15 63.78 66.53 63.78 56.45 54.06
110.78 59.57 69.79 119.86 110.78 204.42 110.78 64.77 66.71 64.77 55.77 54.22
109.80 66.77 74.94 101.94 109.80 191.99 109.78 67.09 74.53 67.09 66.32 59.74
109.35 99.81 105.09 153.88 126.53 203.43 130.17 89.63 101.63 89.63 94.82 82.79
109.20 91.84 101.45 140.76 146.06 389.24 146.06 97.38 101.45 97.38 91.84 91.84
109.12 99.57 103.26 113.87 113.52 170.18 113.99 95.38 102.51 95.38 98.54 91.45
108.20 80.46 87.62 120.78 120.78 250.87 120.78 85.05 89.75 85.05 82.82 82.82
107.71 66.30 74.20 136.02 107.71 216.81 109.56 68.12 71.03 68.12 62.30 59.50
107.32 90.77 95.34 135.81 114.06 189.31 115.84 90.94 92.33 90.94 86.78 85.43
105.35 105.35 105.35 103.39 105.35 105.35 102.91 100.16 102.31 100.16 102.16 100.00
105.32 73.05 81.33 118.35 119.44 276.94 119.32 75.43 81.66 75.43 73.56 66.82
104.99 76.58 77.87 110.73 83.09 134.74 85.07 74.13 74.19 74.13 71.56 71.54
104.59 63.65 71.78 120.73 104.59 189.50 105.85 67.80 69.78 67.80 60.96 58.99
104.48 73.78 82.44 171.96 117.08 225.86 122.15 71.35 74.25 71.35 62.53 59.97
103.48 90.09 93.68 96.25 109.17 174.64 109.17 79.77 93.68 79.77 90.09 71.30
103.46 71.08 77.90 106.01 105.47 155.27 105.67 71.82 77.07 71.82 70.04 64.95
102.78 62.83 71.54 159.55 111.26 269.87 113.90 64.89 65.22 64.89 55.04 54.96
102.16 97.52 98.45 100.00 102.16 95.39 94.84 87.67 89.32 87.67 87.93 87.93
101.89 86.00 86.68 240.03 89.60 200.68 113.21 77.80 79.45 77.80 71.35 69.72
101.79 74.68 82.26 122.77 113.22 155.71 114.06 85.27 80.94 85.27 72.84 72.84
101.59 75.02 81.28 133.56 106.70 182.90 109.14 75.27 77.08 75.27 69.21 67.68
101.10 97.27 98.02 156.11 101.10 165.00 103.53 87.75 87.18 87.75 83.20 83.92
101.04 76.01 82.96 130.51 111.52 203.86 94.21 56.66 57.01 56.66 48.01 47.85
100.74 73.22 80.77 111.70 112.43 189.59 93.17 57.00 57.91 57.00 49.68 48.83
99.93 74.93 79.78 149.49 99.93 208.56 102.12 72.17 72.65 72.17 65.73 65.03
99.01 63.41 70.09 120.31 99.01 201.30 100.42 65.76 68.25 65.76 61.12 58.66
98.97 94.95 95.75 150.28 98.97 147.99 87.50 87.50 88.39 87.50 84.92 84.09
98.31 60.28 67.83 112.75 98.31 178.20 97.50 62.11 63.15 62.11 54.73 54.01
98.18 62.59 69.73 96.44 98.55 162.44 98.55 64.32 68.95 64.32 61.54 61.54
97.68 59.45 67.05 122.90 97.68 181.12 99.82 61.12 63.56 61.12 54.76 52.54
97.22 71.07 78.25 174.77 108.33 299.68 113.84 68.52 69.09 68.52 58.86 58.00
97.15 52.49 59.45 98.27 88.92 176.67 89.62 57.24 58.43 57.24 51.16 50.18
96.71 70.41 77.65 103.18 107.63 168.94 108.20 66.94 76.75 66.94 69.20 60.00
96.57 65.78 72.72 99.54 102.93 240.11 102.93 67.90 72.72 67.90 65.78 60.47
96.52 81.44 85.34 126.37 101.49 173.44 103.31 75.44 80.84 75.44 75.51 70.18
96.36 71.58 78.38 171.28 106.83 227.37 114.62 71.11 73.88 71.11 64.40 61.75
96.27 91.78 96.23 104.50 108.62 138.04 110.18 81.50 95.86 81.50 90.98 76.96
95.96 61.76 68.55 124.32 124.32 182.22 99.68 63.86 67.51 63.86 59.81 56.06
95.93 72.36 78.93 140.03 105.61 216.22 108.65 73.54 74.49 73.54 66.23 65.39
95.59 67.85 75.66 106.12 107.00 173.70 106.90 70.65 74.93 70.65 66.98 62.78
94.10 71.61 75.14 107.04 94.10 252.62 95.03 67.10 72.79 67.10 68.50 62.20
93.53 82.53 85.50 217.24 98.49 232.62 107.48 72.13 71.22 72.13 63.05 64.37
92.52 71.76 77.52 136.97 101.23 186.49 99.46 63.84 67.72 63.84 60.25 56.42
92.20 78.58 82.40 150.42 97.91 188.55 97.91 74.43 75.37 74.43 69.00 68.14
92.07 58.46 67.73 100.16 106.18 182.61 106.30 63.94 67.52 63.94 58.17 55.54
91.72 61.27 68.41 146.93 97.61 206.95 101.76 58.39 61.93 58.39 52.40 48.96
91.33 80.42 86.34 298.34 112.58 310.78 139.61 73.74 74.66 73.74 59.71 59.05
91.29 66.14 72.09 114.43 96.10 167.16 97.16 68.39 69.12 68.39 62.30 61.79
90.95 63.60 70.92 88.78 91.65 127.52 91.65 62.59 69.82 62.59 62.09 55.89
90.71 77.64 80.95 89.23 97.20 184.97 97.20 71.01 80.95 71.01 77.64 64.83
90.48 48.78 58.18 105.67 95.86 185.89 96.66 54.00 56.10 54.00 46.08 44.31
88.96 70.89 74.90 110.64 92.65 156.35 94.08 71.98 72.53 71.98 67.65 67.25
88.18 55.94 61.65 95.42 88.18 210.60 83.52 59.07 60.82 59.07 55.03 52.87
88.04 50.47 57.94 112.72 88.04 170.06 89.93 52.33 53.97 52.33 45.13 43.79
87.63 50.83 57.66 86.06 87.63 218.06 87.63 55.17 57.66 55.17 50.83 47.98
87.57 71.45 75.98 129.10 94.56 188.53 97.32 71.30 71.44 71.30 65.20 65.31
87.39 59.87 66.28 97.12 92.76 160.87 93.15 63.75 65.59 63.75 58.98 57.23
87.27 74.57 81.14 111.31 107.61 167.59 107.60 77.45 79.82 77.45 72.97 70.82
86.97 67.52 72.93 100.42 95.14 181.04 92.92 64.47 68.03 64.47 61.98 58.67
86.92 50.73 59.09 95.86 93.98 177.31 94.48 53.76 58.52 53.76 49.94 45.61
86.75 70.95 74.04 100.44 86.77 168.74 87.91 66.88 72.12 66.88 68.39 63.07
Strategic dilapidationsDilapidations
New Letting
Fitting Out
Management
Periodic Reviews
Existing Letting
CO2 Estates Ltd
• Strategic energy-led fit-out and re-fit
• Optimisation of investment strategies for mutual Landlord and Tenant benefit
Lighting
Retrofit
EPC
indexEPC index diff Cost
Simple payback
(yrs)
Mutual LL & T
benefit
Unit AWhole 93.36
-1.26 £43,500.00 22.81 N
FoH only 94.62 £11,284.80 6.52 Y
Unit BWhole 63.43
-28.54 £8,629.20 20.60 N
FoH only 91.97 £3,261.00 8.49 N
Unit CWhole 68.85
-11.73 £1,620.00 2.66 Y
FoH only 80.57 £1,326.00 2.20 N
Carbon Estates Software - Decision-support for energy-led retrofit
CO2 Estates Ltd
• Energy-led improvement is a multi-criteria
decision-making process that requires support.
• Carbon Estates’ automated retrofit strategies:
‒ Out of risk
‒ Cost-effective out of risk
‒ Minimum inconvenience
• Automated cross-referencing between energy
performance and asset management data sets
and schedules
Opportunity for ‘Change from Within’…
CO2 Estates Ltd
Data Management
Collaboration between Landlord and Tenant teams
Overcoming landlord and tenant divide
Opportunity for performance gap analysis
Transparency at periodic reviews
Continuous, informed risk management
Strategic energy-led investment