Future retail and office tenants will also benefit from Lendlease's Green Lease
program, which encourages tenants to adopt sustainable fittings, equipment and mindsets for operational savings and providing a healthier environment for their employees in their tenancies.
Remembering that the object being exchanged is a legal right over a physical building, it is interesting to note that a new form of legal right, the green lease
is featuring (Hinnells et al.
The terms of the Hall Green lease
agreement signed by the GRA preclude it from opposing any planning application for the stadium which can hold 2,700 and has been staging greyhound racing since 1927.
are now gaining more and more popularity due to their ability to further improve the environment over the life cycle of a building at the same time benefiting both the landlords and the tenants who occupy them.
Also, Telenor's lease will be a Green Lease
, which entails that both parties will aim to identify operating solutions that are resource-efficient and environmentally smart, at the same time as the building will be environmentally certified according to the BREEAM Very Good standard.
Strategies for a building's operation to maximise the rating awarded include imposing fit-out guidelines on tenants as well as having green lease
provisions in all leases.
the Retail Industry Leaders Association together with the Institute for Market Transformation last month released the Retail Green Lease
Primer to educate real estate and leasing agents on the lease provisions that are needed to achieve sustainability goals.
The primary purpose of a green lease
is "1) to improve the operational performance of green buildings and (2) to deliver to landlords and tenants an equitable share of the incremental value provided by green buildings.
model green lease
," (29) which comes with a reference guide for the model green lease
A green lease
is a series of provisions in a commercial real estate lease requiring both the landlord and the tenant to work together to reduce the environmental impact of the premises.
But it matters not one jot to Teesside, because it's loud and proud about its new green lease
Simplifying and streamlining the resident's utility billing process is one of the main selling points of the green lease
, Burton says.