Brussels Regeneration Report 2023
The office redevelopment potential and the impact on values
- Pierre-Paul Verelst
- Sébastien Giordano
- Kasper Deforche
Real estate contributes to about 40% of CO² emissions globally.
In that context, JLL Research posed the following questions, as most Brussels based property owners must do, regarding obsolete properties or those that no longer meet current market standards:
• What is the average stock age?
• How important are green certifications?
• To what extent is a property future-proof?
• What actually requires regeneration?
• Do we need as much office space as in the past now that hybrid work has become mainstream?
• What are the alternative uses for redundant assets?
The study aims to answer these questions by performing an in-depth analysis on the actual office stock in Brussels and concludes with the impact of regeneration on rental values.