The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

New Real Estate Wellbeing Metric Launches

New Real Estate Wellbeing Metric Launches
16 December 2022
 

LifeProven, the ESG consultancy for the built environment, has launched the Real Estate Wellbeing Metric which will focus on the building process as a means of preventing poor health.

LifeProven argues that very few property developers have been able to look further than readily reported environmental standards. The Real Estate Wellbeing Metric (REWM) aims to accurately measure the wellbeing of assets specifically, with data used to mitigate the risk of mental and physical health issues for occupants.

 

"...It’s remarkable that this hasn’t been scientifically assessed by the industry before. It’s the future of property.”

–Jordan Relfe

Co-Founder, LifeProven

 

Wellbeing is not a “Generic Metric”

 

“Wellbeing is highly personalised, not a generic metric, and property operators typically haven’t known where to start with addressing it,” said LifeProven Co-Founder Jordan Relfe.

“Sustainability is more widely understood but I think the market has been much slower in considering wellbeing as central to a building’s performance. Perhaps COVID has changed that for the better. Either way, we’ve set out to make it as easy to measure a building for its wellbeing as one might for its carbon footprint.”

Jordan also argues that wellbeing certifications in the property world have not only been “cumbersome and expensive” but have not come with that degree of actionable insight.

“Environmentally, buildings will get to where they need to be. But, on reflection, one can consider wellbeing as being in many respects more important - not just because it’s a huge growth area but because it’s really about making buildings better for the people in them, and, really, it’s remarkable that this hasn’t been scientifically assessed by the industry before. It’s the future of property.”

To date, the company has collected 165,000 data points across occupant variables such as age, gender, income, fitness, nutrition and mental health, as well as by the type, location, features and operation of the building itself. The system will allow predictive modelling too, as data sets grow.

 

Launching with VeryLife’s 1,500 Unit Portfolio

 

REWM launches with a partnership with Build To Rent Operator VervLife, with a mandate to gather data from their 1,500-unit portfolio. VervLife Director, Brent Stojanovic has argued that, since environmental standards are being pushed through by legislation anyway, what will increasingly set its properties apart will be their measure of occupier wellbeing:

“At VervLife we feel strongly about doing our bit as operators to improve the physical and mental health of our residents and members. This sector-leading partnership with the team at LifeProven will give us unique, science-backed and granular insight into the wellbeing of the people that live in our managed communities and the factors that affect it.

"With this knowledge we can make smarter decisions on how our buildings are run, providing our investor clients with valuable data on how their assets are performing from a health and wellbeing perspective”

Picture: a photograph of an open-plan office with several desks and chairs. Image Credit: Unsplash

Article written by Ella Tansley | Published 16 December 2022

Share



Related Articles

Can Buildings be Ranked on Social Value?

A building certification that measures the social value of a building has been launched by Fitwel.   Watch the Video   >   Investors...

 Read Full Article
ESG Pro Appoints Full Bin as UAE and MENA Partner 

ESG Pro Limited will partner with Full Bin in the United Arab Emirates and MENA region. Full Bin, known for its waste management and recycling services, will use its...

 Read Full Article
Office Space in Town Named as Sunday Times Best Place to Work

Flexible workplace provider Office Space in Town has been named in The Sunday Times Best Places to Work 2023 list in the Small Organisation category. Office Space...

 Read Full Article
Firefighter Instructors at High Risk, Study Finds

Firefighter Instructors - those who train firefighter staff across the UK and typically face up to five to ten times the number of live fires compared to regular...

 Read Full Article
The Great British Workplace Wellbeing Award Winners Revealed

Companies and individuals who are successfully addressing the current global wellbeing challenge were recognised in the Great British Workplace Wellbeing Awards at The...

 Read Full Article
Predictions for Supply Chain Issues in 2023

Alex Minett from CHAS, the supply chain risk management company, looks at seven issues that will affect supply chains in 2023.  The last year has been challenging...

 Read Full Article
10 Ways Workplaces Can Save Energy

Ulla Riber, Head of Group Workplace Management at ISS, looks at energy management in workspaces through the lens of employee morale and wellbeing. Ulla is supporting...

 Read Full Article
Legal & General Investment Management Commits to Reuse Office Equipment

LGIM Real Assets has partnered with ESG platform Globechain to exchange office furniture, IT equipment and appliances with other businesses. Through the...

 Read Full Article
Hive Cleaning Certified as a B Corporation

Hive Cleaning, an office cleaning company, has announced its certification as a B Corporation, after receiving the highest Impact Score among all the UK facilities and...

 Read Full Article
Infogrid Acquires Aquicore to Strengthen ESG Reporting Offering 

UK smart building technology firm Infogrid has announced the acquisition of Aquicore, an ESG data and analytics company. The acquisition will merge...

 Read Full Article