BE Informed - The living edit

BEINFORMED The living edit 2024

Issue 4

Living for the future Brought to you by

BEINFORMED | 1

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2 | The living edit 2024

LIZ HAMSON EDITOR-IN-CHIEF, BE NEWS

Will the next government breathe fresh life into the living sector?

WHY has housing plummeted so far down the political

the ‘Deploying Capital in the UK Living Sectors’ session

agenda? That’s the question many in the living sector have

I chaired at SPACE PLUS’s ALT/RESI event in April were

been asking in the run-up to the general election.

concerned, the smart money is on purpose-built student

There are no easy answers as to why the normally hot campaigning issue has been so conspicuous by its absence from political debate.

accommodation, with build to rent likely to experience mixed fortunes in the year ahead.

This mixed outlook is reflected in the data. According

Yes, other priorities have distracted politicians and

to JLL’s UK Living Capital Markets Review, investment in UK

yes, in the wake of the pandemic and Brexit, there is no

living totalled £12.6bn in 2023 – down 30% on record levels

money to fund previous housing targets (if there ever was).

of activity in 2022. However, it noted an improvement in

But that hasn’t stopped politicians before, and now, with

Q4 and the latest Knight Frank Land Index & Housebuilder

Humza Yousaf having stepped down as Scotland’s first

Survey found that Britain’s housebuilders saw a recovery in

minister and prime minister Rishi Sunak’s position looking

buyer interest and land purchasing activity in early 2024.

increasingly precarious, the gap between what they regard

Could the outlook improve further? This April, Labour,

as populist politics and what actually is populist appears

who most think is nailed on to win, set out five ‘golden

to be growing even wider, with housing just one of many

rules’ to “get Britain building”, encourage development on

casualties. So, where does that leave the sector?

‘grey-belt’ land and deliver on its pledge to build 1.5 million

For all the hype over single-family housing, little has actually been delivered and, as far as those who attended

new homes within the first five years of government.

Time will tell if the rhetoric proves to be empty or not.

WHAT’S INSIDE

Will new BNG laws slow down housing delivery?

P4

GoodPeople on delivering social value P6

Locale on how tech can revitalise urban areas P8

Lawyers must go digital, says Search Acumen P10

Square Mile Farms Social Value Portal discusses unique on realising value new amenity of in-use assets P12 P14

BEINFORMED | 3

IN APRIL this year, new biodiversity net gain (BNG) regulations came into force covering small developments in England. As a result, more than a million SME builders must now invest in measures that increase local biodiversity by 10% to secure planning permission for developments.

Earlier this year, the same laws were introduced covering large sites. The statutory requirements are party of the Environment Act 2021 and require property developers to produce a ‘biodiversity gain plan’ (BGP) for development sites. Once ready, the BGP must be approved by the local planning authority before development is allowed to commence.

The plans have been widely welcomed by environmental campaigners and there has also been

No pain, no gain

a lot of support for the proposals from within the built environment industry.

Oliver Lewis CBE, founder of Joe’s Blooms, which was founded in 2022 to help small developers comply with the new BNG regulations, believes the

Experts have largely welcomed new BNG laws, but some are concerned they could slow down the delivery of much-needed new homes. Simon Creasey reports

new rules are a “significant milestone for the housebuilding sector and for the country’s natural environment”.

He adds: “With small sites now a

“The expansion of BNG

that go even further. “Where possible,

requirements to small sites from

we must also aim for greater uplift

part of BNG, nature recovery will be

2 April is welcome news,” says Drew

than the minimum 10% mandated

at the heart of development in local

Davy, senior sustainability insights

by government and prioritise onsite

communities and around the country.

manager at Grosvenor Property UK.

interventions as much as possible –

It’s important that developers of all

“While not perfect, the regulations are

rather than near or off site, especially

sizes are supported to deliver on this

among the world’s most ambitious

in urban areas,” he says.

ambitious plan to create more green

and signal an important step forward

spaces and enhance biodiversity, and

in how we value nature in real estate.

repercussions of the climate crisis

at Joe’s Blooms we want to make it

“It’s crucial that all developments

across the UK’s built environment.

as quick, affordable and hassle-free

and construction projects – regardless

The real estate industry must now

as possible. If the sector as a whole

of their size – place biodiversity at

embrace regulatory change to

gets this right, BNG is an opportunity

their heart. Be it to help reduce urban

improve wildlife corridors between

for the country to lead the world in

heat island effects or mitigate flood

assets, decelerate biodiversity loss

how to enhance nature through the

risk, increasing biodiversity is a core

and improve our climate resilience

planning system.”

component of climate resilience.”

as a result.”

One large developer in favour

Davy believes developers

“We’re already seeing

Despite the fact the introduction

of the plans is Grosvenor, which

shouldn’t just look to hit the

of the new laws was flagged a

started voluntarily applying BNG to its

government’s minimum BNG target –

long time ago, research published

developments in 2022.

they should push for biodiversity gains

by the government in June 2022

4 | The living edit 2024

research, coupled with the government’s 2022 survey, has raised concerns as to whether the new laws can be introduced effectively.

As Rob Wall, assistant director at the British Property Federation, explains: “The property sector has a huge role to play in protecting and restoring nature, and many developers are already delivering BNG across their existing assets and new developments. The new mandatory BNG regulations will place an additional burden on already overstretched local authority planning departments.

“This is why we are calling on the government to set out a new long-term strategy for resourcing the planning system to ensure that ELENA DIJOUR | SHUTTERSTOCK

planning departments have the capacity and capability to deliver on all fronts including on BNG. “We will also be closely monitoring the implementation of BNG to understand the impact on development. This will include looking at local authorities’ approach to allowing BNG off site and to going suggested only 5% of local planning

beyond the 10% BNG minimum and

authorities felt their current ecological

monitoring how the market in BNG

resource was adequate to scrutinise all applications that might affect biodiversity and less than 10% felt that their expertise and resources would be adequate to deliver BNG. Not ready

We’re already seeing repercussions of the climate crisis across the UK’s built environment Drew Davy, Grosvenor Property UK

Research conducted by BDB Pitmans earlier this year found many local

units is developing.”

It is still early days for the new regulations and many industry experts believe that local authorities will be able to rapidly improve their expertise and BNG obligations as they start to handle a higher volume of applications.

Angus Walker, a partner and

However, some are still

authority planning departments

planning law specialist at BDB

concerned the new BNG laws could

were still not ready to implement the

Pitmans, says: “We recognise that

inadvertently act as a brake on

new BNG rules. The law firm issued

the BNG regime is still in its infancy,

residential development and the

freedom-of-information (FOI) requests

but the results of this FOI request do

delivery of much-needed new homes

to all 317 local and 10 national park

suggest that local authorities are at

in England, in particular. The property

authorities in England and found

best not fully prepared or, worse,

industry will be keeping a close eye

just five had landowner Section 106

that they do not understand the

on the situation over the coming

agreement templates in place for

regime at all.”

months to see if these fears are

BNG sites.

The findings of BDB Pitmans’

realised.

BEINFORMED | 5

It’s time to rethink social value Delivering social value requires strong leadership and genuine commitment, but the benefits for developers, communities and policitians alike are clear-cut crises: cost-of-living challenges;

planning in return for their investment

the inexorable rise of insecure work;

and commitment to delivering social

stagnating wages; and growing

value. They invest into their local

unemployment, especially among

community; locals benefit from skills

our young people. This can’t be good

and access to decent work and the

news for owners or operators of

lasting benefits that investment

long-term assets: functional, resilient

delivers; and politicians benefit from

environment employers in this country

communities on your doorstep are

happier, healthier and more resilient

are facing a chronic and increasingly

good for asset values; communities

communities. Developers’ assets

acute skills crisis. According to the

in an ever-downward social and

thrive. A virtuous circle. Everyone, in

UK Trade Skills Index 2023, the

economic spiral are not.

theory, wins.

Rich Tyrie, chief executive, GoodPeople

IT should be easy.

Construction and built

construction and trades industry

But the reality is often different.

needs 937,000 new recruits over the

Having delivered impact programmes

next decade. This astonishing figure is

for 12 years, we’ve seen the evolution

necessary to cope with the combined

of this agenda since the outset.

impact of Brexit, rapidly changing skills requirements and an ageing workforce.

Growth in demand for net-zerorelated skills will further exacerbate the construction skills challenge.

Despite the emphasis on social value, the gap between rhetoric and reality is stark

According to research around

Despite the growing emphasis on social value, the gap between rhetoric and reality is stark. While it’s great to see such lofty ambitions, seldom do we see the commitment – and corresponding resources – to back

London’s net zero skills requirements,

Whether speaking to communities

we need 163,000 years of labour, just

or politicians, a range of good-quality

Even when asset owners are

to retrofit the existing housing stock in

jobs for local people is seen as one

genuinely committed to doing this

12 central London boroughs alone.

of the major benefits of development.

well, by the time commitments have

Despite the red lights flashing

them up.

Whether that’s driven by social value

cascaded down through complex

around skills shortages for over

or Section 106 targets, developers are

contracting processes and supply

a decade, the UK’s construction

rightly seen as being among the main

chains, the original intention to ‘do the

workforce continues to decline in

catalysts for delivering good, inclusive

right thing’ has been lost.

numbers and is failing to backfill with

local growth. Local residents also get

new entrants. The lack of long-term

it: in return for new developments

circle is broken: the promise of jobs

planning and investment into skills

in their area, they expect access to

and impact doesn’t materialise;

will continue to come home to roost,

economic opportunity for them and

sceptical local authorities increasingly

with labour/build costs increasing as

their families. The promise of jobs

levy fines for non-delivery; local

a result.

is, after all, one of the main carrots

communities are more resistant to

dangled during planning.

new development; and an available

Meanwhile, our communities – in which developers often have long-term interests – face growing 6 | The living edit 2024

In theory, this should be a match made in heaven: developers secure

And the result? The virtuous

labour force shrinks and becomes ever more costly.

Sponsored by

able to attract the next generation of talent – for whom this social stuff really matters – it’s important to be clear about your commitment to this agenda from the outset.

Commissioning and procurement: Embedding an impact focus into the procurement process is essential.

From market warming events, through tenders, to pre-start meetings and beyond, having a clear process in IRENE MILLER | SHUTTERSTOCK

place ensures all partners in the development are contributing.

Drawing on the leadership point above, securing commitments from contractors at a senior level during the tendering process makes all the difference. Think you can retrofit your social value aspirations once the horse has bolted/the contract has GoodPeople is a London-based social enterprise focused on delivering

been let? Think again.

impact in the built environment.

Its programmes – designed in conjunction with local stakeholders

Asset-based development:

– deliver to local priorities, while generating measurable social,

Think not what community can do for

commercial and reputational benefits for clients. These include

you; think about what assets you can

community engagement, social value strategy (from pre-planning

bring to bear. Do you have space that

through to delivery) and impact measurement and reporting.

local community groups are crying out

www.goodpeople.co.uk

for? How can you creatively fill your jobs with local people? How might you support your tenants to better

It just makes good business

Commitment to taking social

engage with the local community?

sense to do this better. So what

value seriously shouldn’t be a stretch

What local partners do you want

are the ingredients for creating

strategically. After a decade of

to support and partner with? How

meaningful community impact? What

austerity, the state faces the triple

can you support local economy

does good look like?

bind of increasing demands on

encouraging diverse local businesses

For the past decade, we’ve

public services, budgets that have

into your supply chain?

been designing – and delivering –

decreased significantly in real terms

social value and Section 106 impact

and a corresponding lack of delivery

programmes. While one size doesn’t

resources to tackle problems.

fit all, there are common themes that

Working out your role in the rapidly changing social value

The private sector has a role

landscape is not simple. It requires

to play here, and this agenda isn’t

leadership, genuine commitment

going to go away, especially with

and partnership working with a

Leadership and commitment:

the likelihood of a new Labour

host of different actors, but the

Buy-in and support needs to come

administration later this year.

benefits are increasingly clear-cut.

you might want to consider:

from the top, and that commitment

Stakeholders expect it also:

And as the number of social and

needs to be consistent across all

whether its attracting investment

environmental challenges we face

delivery partners, whether landowner,

from institutional investors who want

continues to stack up, doing this

developer, main contractor or

to see an ESG return, clients who

well could just well be the gift that

subcontractor.

want responsible suppliers or being

keeps on giving.

BEINFORMED | 7

An untapped powerhouse Real estate technology has the power to not only revitalise tired urban spaces but also to help create sustainable, happy communities

effective, value-for-money residential Guy Windsor-Lewis, chief executive, Locale

homes, and this surely has to be the model for the country.

An innovative approach to urban design, it seamlessly blends

THE clock is ticking towards another

residential, commercial, retail and

general election and one of the things

cultural spaces, creating vibrant and

we are yet to really understand from

dynamic environments that cater to

any party is their stance on housing

the needs of the entire community –

and real estate. One of the key

the village life planted into urban city

can be the powerhouses of growth

markers is GDP and yet the past 13

and town centres.

and productivity while also becoming

years have seen 17 housing ministers

Oval Real Estate’s mixed-use development in Digbeth in the heart of Birmingham

Think back to the days of the

the fabric of close-knit communities.

revolve around the door and some

pandemic when so many people

Given the significant changes in the

pretty flimsy policies to say the least.

were dependent on others in their

way we live and work since Covid,

Many have talked a good game

community for their groceries,

modern mixed-use schemes can

about growth and the need to boost

medicine and a simple chat: the value

become both national and regional

productivity, but inaction seems to

and security of a community cannot

hubs – the beating heart for high-

be the main course served on our

be underestimated.

quality urban living, co-working,

platters. And yet housing demand

Increasingly, discerning lifestyle-

is outstripping supply, Nimbyism

focused residents continue to place

does not seem to be abating and we

pressure on developers to create

continue to see archaic methods to

unique and flexible spaces. They need

Reliance on tech

both build and manage communities.

to be walkable and bike-friendly,

We are craving multifunctional,

So are there are any answers?

with good transport connectivity

sustainable city design that can also

I see real value in mixed-use

and shared mobility options readily

integrate neatly with technology

developments. Lifeless grey city

available. With a particular demand for

to enhance the living experience.

centres and high streets once home

amenity space, residents and visitors

Our daily lives rely so heavily on

to buzzing commercial environments,

want a more meaningful connection to

technology – from contactless

and a few too many supermarkets

the outdoors and community spaces.

payments and online banking via an

and not enough local stores selling

Amenities, such as community

app to on-demand streaming services

locally produced products, are

centres, galleries, outdoor gyms and

for our TV and entertainment – so why

now crumbling and fracturing our

pop-up spaces, enhance physical and

not from where we live?

communities. Combine that with the

mental health, which is at the forefront

Real estate technology, if

challenges of struggling commercial

of design coming out of the pandemic.

thought through and applied in the

Modern mixed-use developments

right way, can transform mixed-use

buildings and the desire for cost8 | The living edit 2024

eating, last-mile logistics, online shopping and leisure facilities.

Sponsored by

needs of occupiers – such as permit requests, maintenance issues and room bookings – while remaining streamlined. The Locale app has become a one-stop shop for staff and occupiers to access when they need to communicate with each other.

At 3 Piccadilly Place in Manchester, Locale has been deployed to streamline building operations and direct occupier communication via bespoke content streaming. Using the new Locale platform, occupier engagement has been revolutionised and client retention levels have soared.

While the technology that was initially implemented served its purpose, we have also evolved the technology in line with the needs of occupiers and residents. Again, similar to how we upgrade our phones and agree to regular software updates for our apps, real estate technology has developments. But having technology alone isn’t enough. Tech is not meant to replace the human connection to our homes and communities; it is meant to create efficiencies for those running them and create seamless experiences for residents and visitors alike – and having this understanding is crucial to its success.

CONNECTING PEOPLE WITH THE SPACES THEY SHARE Locale is the key to smarter building management, letting you achieve more meaningful connections with your customers, more efficiently than ever before.

It is also worth mentioning that

to evolve. We collaborate with clients and listen to their challenges and are constantly looking at introducing new services, ease of use and purposeful integrations that we know will make a difference. This is why our client retention levels are at a five-year high (92%) and usage across our platform has surged 30% in the past year.

Create a mixed-use blueprint that

with the vast range of tech available,

across UK commercial, residential

has sustainable technology integrated

choosing the right tech that actually

and mixed-use real estate. We have

within it – not only will this repurpose

suits its stakeholders is vital. While

collaborated with clients to evolve our

and revitalise fledgling urban areas,

having the latest smart tech gadget

offering, ensuring building operations

but it will also deliver equitable future-

might look cool, it might not actually

can be streamlined and enabling more

proof communities that naturally

solve some basic fundamentals.

effective occupier engagement and

evolve and become sustainable,

Getting the basics right, on one

direct communication via bespoke

efficient and, most importantly, happy.

hand, might not seem sexy but is

content streaming.

actually the backbone of a successful

At Oval Real Estate’s mixed-

Guy works closely with the senior

mixed-use community. This might

use scheme in Digbeth in the heart

leadership team ensuring strategic

be ensuring the visitor management,

of Birmingham, we have tackled

priorities are on track. He keeps a close

helpdesk or even your access control

the challenge of direct occupier

eye on the day-to-day operations

infrastructure is fit for purpose.

communication, especially as

of the business, while acting as a

At Locale, our platform is laser-

many of the buildings are multi-

strategic liaison point for many clients.

focused on the occupier experience.

occupancy. Oval required a system

He regularly meets people from across

Our portfolio spans over 80m sq ft

that would separate the different

the real estate and tech industries.

BEINFORMED | 9

Working smarter Property lawyers must ditch the traditional methods upon which they have relied for many years and leverage digital tools to avoid becoming obsolete simple, but required phenomenal Andrew Lloyd, managing director, Search Acumen

the firm, but lawyers’ patience too.

complexity to develop. For instance,

Nicola Reeve, head of commercial

take our data snapshot solution: this

property at Talbots Law, has seen the

advancement enables real estate

leaps in efficiency it can bring first

lawyers to access a 360-degree

hand. She says: “Incorporating Search

THE use of technology in real estate

snapshot of all relevant data used

Acumen’s data snapshot tool into our

law hugely accelerated during the

throughout a property transaction.

workflow has proven to be a game-

pandemic, not unlike most industries.

This removes the need to compile,

changer for our firm. We’ve essentially

In just a few years, we witnessed a

compare and contrast a multitude of

streamlined our processes. It has

change that heralded the fixture of

property datasets when managing the

prevented duplication of unnecessary

hybrid working, and a digital-first

transaction process, as our system

work and avoids the delays caused by

expectation by consumers that saw

does this automatically through its

having to order searches right at the

many industry practices quickly

understanding of the data needed,

start, getting us to the heart of what’s

become obsolete. We learnt, in

and its ability to automate the data

relevant much quicker.

a relatively short period, that the

collection and presentation process.

capabilities of tech to drive traditional processes were phenomenal.

Behind this product there are advanced machine learning

“It has been an essential asset for us when acquiring fast-food restaurants on behalf of our clients. In

Particularly in the property

some cases, we might be purchasing

industry, this has presented a barrier

over 12 stores at once, so its ability

for professionals who have relied

to consolidate complex information

upon traditional methods for decades.

The recognition of the process-level benefits of tech is monumental for a sector like property law, with deeply ingrained, longstanding, often paperled methods. Law firm leadership now

One of the early mistakes to avoid is seeing digital transformation as a tick-box exercise

needs to develop its understanding of

into a comprehensive report helps us avoid redundant efforts. The tool’s identification of potential issues preemptively safeguards operations – an important advantage when navigating the intricacies of nationwide store acquisitions.”

tech in a more nuanced way.

operations at play to analyse and

The improvements and

distil datasets and automate their

Tangible benefits

presentation for the end user.

It is great to see clients like Talbots

efficiencies we see at the surface by implementing technological solutions

The product is a single screen

Law see tangible and exciting

are underpinned by advanced deep

with an ultra-clear presentation of

commercial benefits from advanced

tech. These complex algorithms –

around 75 datasets. We have found

technology solutions like Data

often the product of years of research

this simplicity to be of huge benefit

Snapshot. While in the background

and development in university or

for property lawyers who are often

we’re managing a substantial data

institutional tech labs – form the

juggling complex matters with

processing operation, sifting through

back end of even the simplest tech

hundreds of data points at any one

vast and varied datasets from different

platforms or products.

time. The ability to reduce what could

organisations across the UK, we

be hundreds of pages of documents

continually launch new products to

examples in the property law sector

into one snapshot saves not only

support solicitors.

that as an end user appear relatively

hours of time and therefore cost to

We can easily highlight a few

10 | The living edit 2024

Commercial longevity in a world

AREE_S | SHUTTERSTOCK

Sponsored by

defined by significant economic and

understand the potential to capitalise

the most exciting time for business

social change will continue to be

on this investment, and the need

development of their careers. One of

vital to competitiveness. The Spring

for providers like us to be ready to

the early mistakes to avoid is seeing

Budget provided some clarity about

provide accurate and reliable data in

digital transformation as a tick-box

the government’s plans to stimulate

a business environment where speed,

exercise that can be ‘completed’. For

the market in the near future. For

efficiency and cost-effectiveness are

long-term success, the journey will

example, the chancellor reiterated his

paramount.

be ongoing, requiring commitment,

support for the ‘golden triangle’ areas

The addition of open-source

collaboration and investment. This

of London, Oxford and Cambridge,

generative AI has opened a vast

partnership, between tech firms and

branding them as the “Silicon Valley

number of doors across the industry,

businesses, will continue to shape

of the UK” and promising £92m of

with a myriad of possibilities now at

productivity over the coming years.

investment for the life sciences sector.

the sector’s fingertips. Following the

The only limits will be in the pace

More monetary investment in

launch of ChatGPT in November 2022

of innovation and the ability of firms to

these areas is likely to attract higher

and other generative AI tools that

adapt to the tech that could transform

transaction numbers, as businesses

followed suit, the pace of change

their work. Choosing the right partner

gravitate to growth areas and help

suddenly hit lightning speed. That

to explore this journey will be a crucial

to keep the property sector moving.

was a year ago, but I still see many

decision and one that will shape the

As a property data provider, we

firms hold back on what should be

future of every property law firm.

Search Acumen is a UK-based legal technology company that specialises in providing the latest search, data and automation techniques to conveyancers and real estate lawyers. Passionate about providing smart digital solutions that offer improved productivity and efficiencies, Search Acumen provides market-leading platforms that allow conveyancers and real estate lawyers to complete every step of the property transaction process under one roof.

Andrew’s enthusiasm for growing businesses has kept him engaged in the online property data sector for over 18 years, where the power of advancing tech, passionate leadership and a customer-driven approach have translated into helping create a business that grew from start-up to market leader in just five years.

BEINFORMED | 11

Cultivating the future Experiential farms – an innovative new feature for commercial buildings – grow fresh, healthy produce for occupants while promoting sustainability and community engagement

Patrick Dumas, founder and chief executive of Square Mile Farms

IN the evolving modern city life, our

Further, the proliferation of building

grow fresh, healthy produce inside

certifications such as WELL, BREEAM,

commercial buildings. The absence

Fitwel and LEED reflect the desire to

of soil erosion, pesticides and

not only showcase but also quantify

transportation, coupled with efficient

the social and environmental impact

water and energy use, makes this an

of buildings to potential occupiers.

exciting solution to produce nutritious

surroundings are vital in creating

This shift reflects a broader

food sustainably, right in the heart of

a shared sense of purpose and

industry commitment, and occupier

belonging. Commercial offices

expectation, that buildings contribute

and residential developments are

positively to both individuals and

take home or enjoy on site the leafy

now challenged to go beyond the

communities.

greens and herbs harvested from their

conventional, offering social and

Experiential farms offer a unique

where people live and work.

Occupants are encouraged to

farms, fostering a sense of connection

environmental benefits that resonate

new amenity for landlords and

with both the environment and fellow

with their occupier communities.

developers seeking distinctive and

occupants.

The wave of new amenities,

captivating spaces. These indoor

ranging from fully stocked kitchens

installations grow fresh, healthy

A growing demand

to cinemas and other recreational

produce for building occupants

Forward-thinking developers,

spaces reflects the growing emphasis

while promoting sustainability and

landlords and occupiers are

on creating vibrant, engaging

community engagement.

recognising the benefits of farming on

environments. These amenities,

their buildings and communities and

particularly those aligning with

What is an experiential farm?

are already integrated experiential

ESG principles, are emerging as

An experiential farm uses modern

farms into their buildings.

the latest frontier to distinguish the

soilless hydroponic techniques and

best commercial urban real estate.

energy-efficient LED lighting to

12 | The living edit 2024

Using its leading-edge farm technology and expertise Square

Sponsored by

Mile Farms integrates farms

Transforming the urban landscape

The journey begins now

into all manner of spaces, from

for good

As more and more experiential

prominent installations in lobbies

At Square Mile Farms, we believe

farms are installed across the UK, we

and communal areas to disused

farms have the power to transform

hope to see urban communities that

rooftops or basements that become

urban environments for the better.

are more connected, healthy and

exciting new growing, and gathering,

With offices and residential

sustainable. Transformation of the

places. Experiential farms transform

buildings first off the block, our vision

built environment is happening – one

underutilised spaces into distinctive

extends across the built environment

farm at a time.

features that enhance the overall

to include schools, hospitals and

Get in touch with Square Mile

appeal of the building.

public spaces – a comprehensive

Farms to plant the seeds of your

integration of farms into communal

farming journey today.

The benefits of experiential farms

urban spaces.

Cultivating engaging and

Indeed, we imagine a map

Patrick is the founder and chief

enriching experiences: experiential

of an ever-growing farm network

executive of Square Mile Farms.

farms encourage direct engagement

that measures the impact on

Prior to starting Square Mile Farms,

among building occupants. Regular

nutritional benefit, water conservation,

he was a consulting partner at

participation in harvests, the ability

improved air quality and other

EY and a strategic adviser to

to vote on upcoming crops and

measurable outcomes, in real time,

companies and governments

involvement in collaborative farming

for everyone.

across the globe.

1.

initiatives create a shared sense of purpose and nurture team spirit and community cohesion. Beyond the production of healthy food, experiential farms serve as platforms for building awareness and educating individuals on health, wellbeing and sustainability.

2.

Driving positive change:

experiential farms serve as catalysts for change by shedding light on global food production challenges and championing local, sustainable solutions. By improving the understanding of healthy and sustainable agricultural practices, these farms inspire individuals to make more informed eating choices and even grow their produce at home. Experiential farms empower individuals to actively contribute to positive environmental changes.

3.

Attracting occupiers: not only do

Square Mile Farms grows fresh, healthy and sustainable produce in the heart of where people live and work. It currently operates a

they look good, smell good and taste

growing network of 100 experiential farms across the UK in partnership

good, they also provide a platform

with some of the world’s largest landlords, building managers and

for conversation about sustainability

corporates. In 2023 alone, it held over 1,000 harvests involving 13,000-

activities by the building owners, such

plus people, collectively providing 55,000 servings of produce for its

as decarbonised heating systems and

farm communities. Square Mile Farms expects to double the size of its

waste stream management, which are

farm network in 2024.

often invisible to people in the building.

BEINFORMED | 13

Harnessing social value By reimagining how the built environment is used, it is possible to realise greater value from existing assets and accelerate positive contributions to local communities

OUR MISSION Our mission is to make social value count in every

or helping with recruitment and Nathan Goode, chief strategy officer, Social Value Portal

retention rates, and positive publicity, social value can generate additional new business value as well.

Taking all this into account,

organisation and local community worldwide.

Social Value Portal is an online social value measurement and reporting platform with support and

SOCIAL value has become the new

the best means of achieving these

currency for conducting responsible

socially conscious ambitions will

business at all stages of the real

depend on the specific needs of the

estate lifecycle. But more than ever

local community in which a building

before, real estate professionals are

is based, and how that in-use asset

being asked to consider how in-use

is therefore best positioned to fulfil

buildings can drive sustainable and

these needs. So, when looking to

socially responsible change.

establish a social value strategy for

There is growing demand

existing assets, where should real

tackle environmental compliance,

estate professionals begin?

organisations must weigh up

for solutions that capture and communicate the value an asset

consulting services that ensures its members optimise performance and report validated data effectively.

wellbeing improvements or consider

creates for society and local

Delivering long-lasting change

how procurement can be more

communities, especially as investors

When getting started, it is always

socially responsible.

understand the potential of social

worth remembering the true

value in helping them to secure

meaning of social value. Many think

rigour and transparency, there is

additional funding.

of it as the ‘S’ in ESG. However, ESG

no reason social value in the built

Furthermore, social value should

Yet with the right approach,

frameworks are used to assess

environment can’t be reported on

be viewed as an essential means of

an organisation’s impact in terms

like financial accounts. These are

building stronger relationships with

of their environmental, social and

trusted because they use a rigorous,

surrounding communities. From a

corporate governance. In the case

consistent standard, and there is a

property’s available facilities to its

of ESG, the focus is on reducing a

high level of transparency around how

contracted services, to mentoring

business’s impact on communities.

they are calculated. The same can

programmes and mental health

In contrast, social value seeks to go

be true of social value reporting for

provision, there are many potential

beyond compliance, demonstrating

existing assets.

opportunities to improve a building’s

how a building can make a positive

standing within a local region.

contribution to a local environment

Rethinking existing assets

and its people.

When it comes to considering

These can have a positive impact on business growth, too. Whether

Many mistakenly believe that

it is improving occupier and visitor

measuring an asset’s social value

contributions of the building itself are

satisfaction, increasing footfall,

is more difficult to do, too. Instead

a given. It is too late to incorporate

strengthening community relations

of counting carbon emissions to

social value as part of the design

14 | The living edit 2024

social value for in-use assets, the

Sponsored by

occupiers – and assesses the social value maturity for each category, providing an overall social score for the building once the questionnaire has been completed.

Part 2 collects information about a building’s social value activities and assesses these against the Social Value TOM System, the most widely used framework for measuring and reporting on social value in the UK. Once a submission is validated by an independent third party, action plans can be produced to drive more value from existing assets. Recently recognised as contributing to the Global Real Estate Sustainability Benchmark (GRESB), RESVI has transformative potential for decisionmakers at a time when they are being urged to amplify their contributions to local communities.

Used by the likes of UnibailRodamco-Westfield and Ellandi, those that choose to take advantage of RESVI can quickly identify areas for improvement, empowering them with phase. Instead, value can be derived

the evidence they need to take action.

from how the asset is managed, serviced and occupied, increasing the societal benefit of the building as a result.

For example, who is employed in this building? How have they been recruited? Can spaces within the

Value can be derived from how the asset is managed, serviced and occupied

building be used in innovative ways?

Connecting communities with value In-use real estate assets have the chance to play a vital role in creating communities that thrive. By adopting tried-and-tested frameworks, decision-makers can pinpoint where their social value efforts should be

Might they, for instance, be used

develop the Real Estate Social Value

concentrated and develop action

for community-based initiatives or

Index (RESVI).

plans to make their ambitions a reality.

non-profit purposes? Can the means

The outcome? Existing buildings

of travel to and from the building be

How does RESVI work?

have a bigger purpose, and everyone

improved? How about the spaces

RESVI consists of two halves: a

enjoys the rewards.

between existing assets, such as

qualitative review (part 1) and a

streets, pathways or parks? Can they

quantitative assessment (part 2).

be enhanced?

What is needed is a consistent,

Part 1 is a standardised questionnaire, covering topics such

To find out more, please visit www.socialvalueportal.com/who/realestate/ or call +44 (0) 203 747 6555.

rigorous and transparent means of

as governance, work, economy,

assessing existing real estate assets

community and planet. It targets

Social Value Portal recently hosted a

and analysing their social value

a building’s four main stakeholder

webinar, ‘Social Value in Real Estate’,

performance. It was this need

groups – the asset manager, the

with guest speakers from Catalyst and

that led Social Value Portal to

property manager, suppliers and

Longevity Partners. Watch it here.

BEINFORMED | 15

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16 | The living edit 2024