This study was commissioned by Sustainability Victoria to deliver a greater understanding of the size and impact of lower-grade commercial office buildings across Victoria.
The main goals of this report are:
- to provide analysis of Victoria’s office stock segmentation and provide insights into the various office markets in which these buildings operate
- to inform the future direction of policy and initiatives enabling decision makers to achieve the highest possible environmental and economic return.
In place of state-wide or national initiatives, targeted campaigns using this evidence base will enable the Victorian government to refine initiatives to better target lower grade (B, C and D grade) buildings.
Traditionally, retrofitting initiatives and research have been focussed on the Melbourne CBD, where the highest volume of investment grade building stock resides. This report takes a state-wide view of lower grade building stock, incorporating metropolitan Melbourne and regional Victoria, presenting a more holistic and opportunity rich portrait of Victoria’s current market.
In addition to the significant opportunities found in this report, there were also notable gaps in the availability of some data on Victoria’s lower grade office market. Future studies would benefit from further research, particularly in relation to building grades, ownership and actual environmental performance.