Places for London Portfolio Net Zero Roadmap

CHALLENGE

Places for London required a clear, portfolio-wide strategy to transition its diverse real estate to net zero carbon, while maintaining asset value, income, and compliance with evolving regulations. The portfolio presented significant complexity, with a large proportion of assets requiring tailored strategies, including heritage buildings with limited fabric intervention feasibility.

Additional challenges included balancing capital investment, considering landlord and tenant responsibilities, and aligning decarbonisation actions with broader investment and asset lifecycle strategies.

SOLUTION

Savills developed a comprehensive, costed Net Zero Carbon Roadmap, combining asset-level analysis with portfolio-wide modelling to define a practical pathway. The approach segmented the estate by asset type, value, and performance, enabling targeted interventions aligned with investment priorities, particularly focusing on Prime and vacant assets.

A suite of decarbonisation measures, ranging from building fabric upgrades and HVAC electrification to lighting optimisation and rooftop PV, was tested through multiple scenarios to identify the most effective and financially viable pathway. The roadmap prioritised early, high-impact actions across the portfolio, while supporting strategic decision-making in line with asset performance and long-term investment objectives.

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RESULTS

The roadmap demonstrates the potential for a substantial transformation in portfolio performance. The strategy can significantly reduce exposure to stranding risk and align the estate closely with net zero trajectories.

In addition to carbon savings, the roadmap generates strong financial outcomes through operational cost savings. The approach also supports long-term value protection by maintaining asset lettability, improving EPC performance, and strengthening resilience against regulatory and market risks. Overall, the roadmap provides a deliverable, investment-aligned pathway that safeguards income, enhances asset value, and positions Places for London as a forward-looking, low-carbon real estate portfolio.