As you will have seen from media coverage, the Spanish Office Association (AEO) has introduced a rating that measures the quality of your office. More specifically, the Technical Classification for Office Buildings (ctAEO) rating is designed to promote efficiency, transparency and professionalism in the office sector. CBRE is one of the companies that has been certified to carry out this evaluation.
CBRE, one of the companies certified to carry out the Technical Classification of your office building
The office sector is currently faced with an extremely demanding market. According to CBRE’s 2017 Market Outlook, in 2017 the economy will continue to grow and it is expected that the greater number of employees will require 3.2% more office space in Madrid and 3% more in Barcelona. However, these companies have new requirements: a high quality workplace, services that make life easier for employees, high sustainability standards and flexible spaces that are adapted to the new generations that are joining the workplace.
This is where the quality of office supply comes into play. In 2016 we saw some fully refurbished prestigious properties come onto the market, following a long and arduous crisis, which left office stock even more outdated than it already had been.
The ctAEO presents an excellent opportunity to identify areas which can be improved and implement measures which will increase the building’s returns.
HOW CAN WE HERE AT CBRE HELP YOU?
- WE EVALUATE the 4 categories defined by the AEO: Architecture, Installations, Unique Features, Age of Building and Certifications. These 4 categories are then subdivided into 45 parameters, which receive a maximum scoring of 100 points. The sum of the scoring obtained for each parameter dictates the final classification obtained: A+, A, B+, B, C.
Let’s take a more detailed look. Once the areas for improvement have been identified, we can help you draw up an action plan to improve your rating.
- We complete a GAP ANALYSIS to identify areas that require improvement.
- We set out a ROAD MAP that will guide you towards achieving the A+ certification.
- We improve theRETURNS from your building.
WHY IS THIS CERTIFICATION IMPORTANT?
- It guarantees objectivity and independence in the classifications.
- It is expected that by 2019 the top 1000 most-emblematic buildings in Spain will be certified by the ctAEO.
- It is an excellent opportunity to identify gaps where improvement is needed to then obtain the highest classification, improving the building’s value and returns.
- We don’t just evaluate your building; we go the extra mile. We will outline key points for you and draw up an action plan to improve your office building and increase its value.
- Multidisciplinary Approach: our accreditors are accompanied by specialists in Design and Build, Asset Management, Valuations, Letting Advisory and Capital Markets.
- Experience and trust: We are the world’s number one real estate consultancy firm. Our size, experience and expertise allow us to access and fully understand the businesses of the world’s leading companies. In 2016, we managed over 5 million sqm in Spain and valued over 20,500 properties.