TC3: Fit-Out & Refurbishment Program for Tenants on ESG

Intent

This indicator assesses how the entity addresses ESG issues in the fit-out and refurbishment of tenant space. A fit-out and refurbishment program helps to align the views and actions of landlords and tenants during an early stage of the occupancy, prior to the tenant/occupier going into occupation. Guidance and support from the start of the lease reinforce the importance placed on ESG issues and creates the basis for sustainably operated buildings.

Requirements

Select yes or no. If yes, select all applicable sub-options.

Does the entity have a fit-out and refurbishment program in place for tenants that includes ESG-specific issues?

• Yes
  • Select all topics included (multiple answers possible)
    • Fit-out and refurbishment assistance for meeting the minimum fit-out standards
      • [Select percentage points covered]
    • Tenant fit-out guides
      • [Select percentage points covered]
    • Minimum fit-out standards are prescribed
      • [Select percentage points covered]
    • Procurement assistance for tenants
      • [Select percentage points covered]
    • Other: ___________
• No

Percentage portfolio covered

• > 0%, < 25%
• ≥ 50%, < 75%
• ≥ 25%, < 50%
• ≥ 75%, ≤ 100%

Percentage portfolio covered: Coverage is calculated based on floor area. If the floor area covered changed during the reporting year (for example because of a change in the number of tenants), use the floor area percentage applicable at the end of the reporting year. The denominator represents the floor area of the whole portfolio. Select one of the four categories provided in the dropdown menu.

Validation

Other: State the alternative topic included in the fit-out and refurbishment program. It is possible to report multiple other answers.

See Appendix 2a for additional information about GRESB Validation.

Scoring

1.5 points, S

Scoring is based on the number of selected options. It is not necessary to select all options to achieve the maximum score.

Percentage portfolio covered: The coverage percentage number is provided by selecting one of four drop-down menu options. The selected option then acts as a multiplier to determine the score according to the table below:

Drop down option	Multiplier
0% - 25%	0.25
25% - 50%	0.5
50% - 75%	0.75
75% - 100%	1.00

Other: The 'Other' answer is manually validated and points are contingent on the validation decision.

See the Scoring Document for additional information on scoring.

Terminology

Fit-out: Work to design, refurbish and decorate the tenant-occupied portions of the leased property.

Fit-out and refurbishment assistance: Work to support or inform fit-out or refurbishment activities meeting the minimum fit-out standards.

Minimum fit-out standards: Basic requirements for tenant fit-out and refurbishment. If the landlord is responsible for all fit-outs and the landlord has minimum fit-out standards in place, select this answer and indicate the percentage of portfolio covered.

Procurement assistance for tenants: Assistance for the tenants in the procurement process. It can include, but not limited to, green procurement guidance, procurement channels, and recommendation of green suppliers..

Refurbishment: Renovation or redecoration works undertaken by a landlord or tenant.

Tenant fit-out guide: A formal document providing tenants with information about landlord criteria and requirements for tenant fit-out of a leased building or part of a building, such as requirements for materials selection.

References

SASB-Real Estate Owners, Developers & Investment Trusts, March 2016: IF0402-12

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