Industry welcomes ‘investment spree’ in wellbeing

RESEARCH WHICH identifies the start of a three-year phase of significant investment in wellbeing across the UK’s built environment sector has been welcomed by the lighting industry.

To stay competitive and attractive to tenants, commercial landlords are under increasing pressure to provide the type of spaces that end users want, especially ones where wellbeing is prioritised.

Published this week, the report from the Urban Land Institute (ULI) - a global non-profit research and education organisation focused on the built environment - presents data from the first ever comprehensive survey of leading property experts into understanding health and wellbeing. It looks at the way the wellbeing agenda is influencing investment decisions across the real estate industry.

Entitled, Picture of health: the growing role of wellbeing in commercial real estate investment decision-making, it reports on survey responses and interviews with more than 100 investors, developers, fund managers, consultants, valuers and analysts. 

Of particular note is that 86 per cent of the survey respondents expect to increase their investment in wellbeing in the next three years, with 17 per cent anticipating this increase to be ‘significant’. 

While the trend has long been identified in the lighting sector, leading players welcomed the highlighting of the report.

Tamlite, a company that has long-championed the benefits of investment in more ‘human centric’ approaches to building services, such as lighting, the survey’s key findings are welcomed, but not surprising. 

Commenting on the report, Head of Wellbeing at Tamlite Lighting Debbie-Sue Farrell said:

‘Tamlite has spent the last 12 months talking to architects, consultants and building owners and operators about the benefits of investment in wellbeing.

‘Clearly, we wanted to lay clear the commercial business case; a key message is that improvements to office environments, particularly in terms of lighting, offer a way to enhance UK workers’ daily experiences of the workplace. 

‘The feedback from our engagement with the market shows us that the agenda is moving on at some pace; more and more companies are now looking for new ways to enhance the workspaces they offer.

‘It is therefore no surprise that the demand for ‘better spaces for better people’ is now shifting to building owners and real-estate investors. To stay competitive and attractive to tenants, commercial landlords simply have to provide the type of spaces that end users want. Wellbeing measures are one of the best ways to do this.’

Victoria Lockhart, co-chair of ULI UK’s Sustainability Forum and director of market development at the International WELL Building Institute, told Lux: ‘The increased interest in health and wellbeing we are already seeing from major players in the real estate industry cements the fact that wellbeing is becoming central to development and investment strategies.

‘As companies seek to attract top talent, wellbeing is increasingly prioritised as fundamental to environmental, social and governance (ESG) factors. Companies are looking closely at the workspaces they offer as well as how the workplace can help translate a company’s values and build a culture of health.’

 

  • To download the full report, click here.

 

  • Learn more about wellbeing at the Lighting for Workplace and Wellbeing conference at the LuxLive 2019 exhibition. The show takes place on Wednesday 13 November and Thursday 14 November 2018 at ExCeL London. Entry is free if you pre-register HERE.