Thomas Fuller emphasised a key lesson learned from past events, including 9/11 and the COVID-19 pandemic: buildings must be adaptable to changing needs. The World Trade Centre towers, for example, were only 30% occupied at the time of the attacks, largely because they had become irrelevant for modern use. Similarly, in the wake of COVID-19, we saw a shift in tenant demands. Buildings designed for single tenants or specific purposes, like the Discovery head office, now face the risk of becoming “stranded assets” if they cannot be repurposed.
In today’s market, buildings must be flexible, able to accommodate multiple tenants, and adaptable to various uses. This is particularly true in the context of rising interest rates and increasing construction costs. Subdividing large office spaces, designing for multi-tenanted operations, and integrating flexible design parameters are crucial strategies for maintaining building relevance over time.
Sustainability was a central theme in the discussion, with Thomas highlighting the importance of moving from “cradle to grave” to “cradle to cradle” in building design. This approach emphasizes reusing materials, reducing embodied carbon, and minimizing environmental impact throughout the building’s lifecycle.
A major driver of this shift is the environmental, social, and governance (ESG) strategies that many listed funds are required to disclose. Buildings are among the largest contributors to global pollution, so reducing their environmental footprint is critical. The goal, as the speaker put it, is to leave “no footprint” and ensure that buildings are resilient, efficient, and smart.
One of the most interesting points in the talk was the role of building information modelling (BIM) and digital twins in predicting building performance. These technologies allow architects and developers to model a building’s operations before construction begins, enabling more informed decision-making around design and sustainability features. By using BIM and digital twins, developers can virtually test how buildings will perform, adjusting factors like airflow, stormwater management, and energy consumption to optimise efficiency.
Beyond environmental concerns, the economic efficiency of buildings is paramount. As interest rates rise, developers and asset managers must be more strategic in their capital allocation. Every decision—from HVAC systems to lighting to water management—affects both the operational costs and the building’s overall value.
Thomas provided a compelling example of how a building that initially consumed 600,000 kilowatt-hours annually was reduced to 307,000 kilowatt-hours through targeted interventions like efficient lighting, HVAC economisers, and demand-controlled ventilation. These changes not only reduced carbon emissions but also improved the building’s marketability to tenants.
In a post-COVID world, sustainability and adaptability are no longer optional—they are essential for any building to remain competitive and profitable. As tenant demands shift and environmental regulations tighten, developers, architects, and asset managers must collaborate closely to design buildings that not only meet current needs but are also future-proof. By leveraging technology, reducing environmental impact, and ensuring economic efficiency, we can build a sustainable future for both businesses and the planet.
