|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
YEAR 1:
Increased property value improved net operating income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adopted property value reference building
|
|
|
|
|
|
|
€/ m2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
lower energy costs
|
|
|
|
|
|
|
|
|
/ m2 (saleable area)
|
|
|
|
Increased rental income
|
|
|
|
|
|
|
|
|
/ m2 (saleable area)
|
|
|
|
Improved operating net total:
|
|
|
|
|
|
|
|
|
/ m2 (saleable area)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Improved operating net total:
|
|
|
|
|
|
|
|
|
/ m2 (saleable area)
|
|
|
|
Adopted yield in reference case
|
|
|
|
|
|
|
|
|
%
|
|
|
|
Increased property value
due to improved net operating income (€/ m2):
|
|
|
|
|
|
€/ m2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salable / rentable area (saleable area)
|
|
|
|
|
|
|
|
m2 (saleable area)
|
|
|
|
Increased property value
due to improved net operating income (€):
|
|
|
|
|
€
|
|
|
|
Value of raising the reference case by approximately:
|
|
|
|
|
|
|
|
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
YEAR 1:
Increased property value due to the lower yield
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salable / rentable area (saleable area)
|
|
|
|
|
|
|
|
m2
|
|
|
|
Adopted yield in reference case
|
|
|
|
|
|
|
|
|
%
|
|
|
|
Adopted property value reference case
|
|
|
|
|
|
|
€/ m2
|
|
|
|
The resulting net
operating income for comparable objects:
|
|
|
|
|
|
|
€/ m2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adopted yield in reference case
|
|
|
|
|
|
|
|
|
%
|
|
|
|
Reduced yield due to lower risk
|
|
|
|
|
|
|
|
|
%
|
|
|
|
New yield property
|
|
|
|
|
|
|
|
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New yield property
|
|
|
|
|
|
|
|
|
% units
|
|
|
|
Operating net for reference case (derived above):
|
|
|
|
|
|
|
|
/ m2
|
|
|
|
The resulting property value of the nZEB
|
|
|
|
|
|
|
€/ m2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increased property value
due to reduced yield (/ m2 saleable area):
|
|
|
|
|
|
/ m2 (saleable area)
|
|
|
|
Increased property value due to reduced yield (€):
|
|
|
|
|
|
|
€
|
|
|
|
Value of raising the reference case by approximately:
|
|
|
|
|
|
|
|
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy
saving, incl. electricity
|
|
|
|
|
|
Heating
|
Cooling
|
Electricty
|
|
|
|
|
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Specific energy demand (Reference Building)
|
|
|
|
|
|
kWh/ m2
|
|
|
|
|
|
Specific energy demand (nZEB)
|
|
|
|
|
|
kWh/m2
|
|
|
|
|
|
Reduced need for imported energy:
|
|
|
|
|
|
kWh / m2 (Energy
reference area)
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PV yield
|
|
|
|
|
|
kWh / m2
|
|
|
|
|
|
total:
|
|
|
|
|
|
kWh / m2 (Energy
reference area)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Part of their own
electricity generation, electricity sold to the grid
|
|
|
|
|
kWh / m2
|
|
|
|
|
|
total:
|
|
|
|
|
|
kWh / m2 (Energy
reference area)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Conversion /
m2 (Energy reference area) to / m2
|
|
|
|
District heating
|
District cooling
|
El
|
|
|
|
|
|
|
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reduced need for purchased energy (Energy reference area):
|
|
|
|
kWh / m2 (energy
reference area)
|
|
|
|
|
|
Conversion factor (Treated Fllor area to saleabe area)
|
|
|
|
|
|
|
|
|
|
|
|
|
Reduced need for purchased energy (saleable area):
|
|
|
|
kWh / m2 (Saleable area)
|
|
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Most of own electricity,
to the property / activities (Energy reference area)
|
|
kWh / m2 (energy
reference area)
|
|
|
|
|
|
Conversion factor (Energy reference area / saleable area):
|
|
|
|
|
|
|
|
|
|
|
|
|
Total (saleable area)
|
|
|
|
kWh / m2 2 (Saleable
area)
|
|
|
|
|
3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Part of their own
electricity generation, electricity sold to the grid (Energy reference area)
|
|
kWh / m2
|
|
|
|
|
|
|
|
Conversion factor (Energy reference area / saleable area):
|
|
|
|
|
|
|
|
|
|
|
|
|
total:
|
|
|
|
kWh / m2 (Saleable area)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
cost
reduction
|
|
|
|
District heating
|
District cooling
|
El
|
Totally
|
|
|
|
|
|
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy price of purchased energy
|
|
|
|
|
/ kWh
|
|
|
|
|
|
|
|
Reduced need for purchased energy:
|
|
|
|
|
kWh / m2
|
|
|
|
|
|
|
Reduced cost of purchased energy:
|
|
|
|
|
€/m2a
|
|
|
|
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Price per kWh of imported energy
|
|
|
|
|
€/ kWh
|
|
|
|
|
|
|
|
Electricity Self Consumption
|
|
|
|
|
kWh / m2 (saleable area)
|
|
|
|
|
|
|
Value of the property's self-produced electricity
|
|
|
|
|
€/ m2 (saleable area)
|
|
|
|
|
3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Value of generated electricity sold to the grid
|
|
|
|
|
/ kWh
|
|
|
|
|
|
|
|
Part of their own
electricity generation, electricity sold to the grid (Energy reference area)
|
|
|
kWh / m2 (saleable area)
|
|
|
|
|
|
|
total:
|
|
|
|
|
/ m2 (saleable area)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Altogether
|
|
|
|
|
|
|
|
|
|
|
|
|
|
District heating
|
District cooling
|
El
|
Totally
|
|
|
|
|
|
|
|
|
Reduced cost / income thanks to energy
|
|
|
|
|
€/ m2 (saleable area)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CO2 reduction
|
|
|
|
District heating
|
District cooling
|
El
|
Totally
|
|
|
|
|
|
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CO2 eq. Emissions
|
|
|
|
|
g/ kWh
|
|
|
|
|
|
|
|
Reduced need for purchased energy:
|
|
|
|
|
kWh / m2
|
|
|
|
|
|
|
Reduced CO2 Emissionsof purchased energy:
|
|
|
|
|
g/m2a
|
|
|
|
|
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CO2 eq per kWh of imported energy
|
|
|
|
|
g/ kWh
|
|
|
|
|
|
|
|
Electricity Self Consumption
|
|
|
|
|
kWh / m2 (saleable area)
|
|
|
|
|
|
|
Value of the property's self-produced electricity
|
|
|
|
|
€/ m2 (saleable area)
|
|
|
|
|
3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Value of generated electricity sold to the grid
|
|
|
|
|
g/ kWh
|
|
|
|
|
|
|
|
Part of their own
electricity generation, electricity sold to the grid (Energy reference area)
|
|
|
kWh / m2 (saleable area)
|
|
|
|
|
|
|
total:
|
|
|
|
|
/ m2 (saleable area)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Altogether
|
|
|
|
|
|
|
|
|
|
|
|
|
|
District heating
|
District cooling
|
El
|
Totally
|
|
|
|
|
|
|
|
|
Reduced CO2emissions thanks to energy savings/renewables
|
|
|
|
|
g/ m2 (saleable area)
|
|
Co2 Follow-up costs:
|
|
|
|
Reduced CO2emissions thanks to energy savings/renewables
|
|
|
|
|
t/ m2 (saleable area)
|
|
|
|
|
|
Reduced CO2follow up costs
|
|
|
|
|
€/m²
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rents
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rented the property out externally? (1 = yes, 0 = no)
|
|
|
|
|
|
|
|
|
|
|
|
|
(Rental property not
generate revenue or faster then the rent is rented totally internally)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tenant value
|
|
|
|
|
|
/ m2 (saleable area)
|
|
|
|
|
reference case vacancy:
|
|
|
|
|
|
% vacancies
|
|
|
|
|
|
reference case rents
|
|
|
|
|
€/m2a
|
|
|
|
|
|
|
Adopted rent%:
|
|
|
|
|
|
%
|
|
|
|
|
|
|
Increased level of rent
if the property is rented out externally
|
|
|
|
|
€/m2a
|
|
|
|
|
|
|
Increased rental income
after taking into account the assumed vacancy level
|
|
|
€/m2a
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
faster
rentals
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of months quicker rentals
|
|
|
|
|
|
months
|
|
|
|
|
|
|
Corresponding:
|
|
|
|
|
|
year
|
|
|
|
|
|
|
reference case rents per year
|
|
|
|
|
|
€/ m2 (saleable area)
|
|
|
|
|
|
The savings due to faster rental year 1
|
|
|
|
|
|
/ m2 (saleable area)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
vacancy rates
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rented the property out externally? (1 = yes, 0 = no)
|
|
|
|
|
|
|
|
|
|
|
|
|
(Rental property not generate revenue or faster rental
|
|
|
|
|
|
|
|
|
|
|
|
|
when the temporary totally internally)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
reference case rents
|
|
/ m2 (saleable area) per
month
|
|
|
|
|
|
|
Adopted lower level vacancy
|
|
|
% units
|
|
|
|
|
|
|
|
|
|
Increased rental income due to lower vacancy rates:
|
|
|
/ m2 (saleable area)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total value
per year for the tenant
|
|
final Result
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total in €
|
Per square meter (saleable area)
|
|
|
|
Total value of the tenant:
|
|
|
€
|
|
/ m2 (saleable area)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Employee
turnover
|
|
final Result
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total in $
|
Per square meter
|
|
|
|
Total savings due to reduced staff turnover:
|
|
|
|
€
|
|
€ / m2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Calculation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salable / rentable area (saleable area)
|
|
|
|
|
|
|
|
m2
|
|
|
|
Total number of employees in the building:
|
|
|
|
|
|
|
|
Employees
|
|
|
|
Reduced employee turnover:
|
|
|
|
|
|
|
|
%
|
|
|
|
Reduced number of
services that need to be translated per year:
|
|
|
|
|
|
|
st services
|
|
|
|
Total cost to hire a person (including marketing e.g.)
|
|
|
|
|
|
|
€
|
|
|
|
Total savings that thanks to reduced employee turnover:
|
|
|
|
|
|
|
|
€
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Productivity
|
|
final Result
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total in €
|
Per square meter
|
|
|
|
Total savings through productivity improvement
|
|
|
€
|
|
€ / m2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Calculation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average monthly salary per employee
|
|
|
|
|
|
|
|
/ month
|
|
|
|
Number of months of qualifying for salary
|
|
|
|
|
|
|
|
12
|
months, ie including holiday
|
|
|
|
Employer
|
|
|
|
|
|
|
|
%
|
|
|
|
This corresponds to an
average salary cost for renter incl. holiday at:
|
|
|
|
|
|
/ year and employee of the tenant
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total number of employees in the building:
|
|
|
|
|
|
|
|
People
|
|
|
|
Average annual labor
costs per employee (incl. Employer):
|
|
|
|
|
|
|
/ year
|
|
|
|
productivity Improvement
|
|
|
|
|
|
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|
%
|
|
|
|
Total savings through productivity improvement
|
|
|
|
|
|
|
|
€
|
|
|
|
|
|
|
|
|
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Sick leave
|
|
final Result
|
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|
Total in €
|
Per square meter (saleable area)
|
|
|
|
Savings thanks to reduced absenteeism
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|
|
|
€
|
|
€/ m2
|
|
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|
|
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|
Calculation
|
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|
|
reference case absenteeism percentage
|
|
|
|
|
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|
|
%
|
|
|
|
Days per year
|
|
|
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|
|
|
|
days
|
|
|
|
reference case number of sick days per year and person
|
|
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|
|
days
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
reference case number of sick days per year and person
|
|
|
|
|
|
|
|
|
days
|
|
|
|
Reducing absenteeism
|
|
|
|
|
|
|
|
|
%
|
|
|
|
Number reduced sick days per person and year:
|
|
|
|
|
|
|
|
|
days
|
|
|
|
Number reduced sick days
per year, the total of all of the property:
|
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|
|
|
days
|
|
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|
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|
|
|
|
|
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|
|
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|
|
|
Number reduced sick days per person and year:
|
|
|
|
|
|
|
|
|
days
|
|
|
|
Total number of employees in the building:
|
|
|
|
|
|
|
|
Employees
|
|
|
|
Days per year
|
|
|
|
|
|
|
|
|
days
|
|
|
|
Average annual labor
costs per employee (incl. Employer):
|
|
|
|
|
|
|
/ Year & employee
|
|
|
|
Savings thanks to reduced absenteeism
|
|
|
|
|
|
|
|
€
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Publicity
Value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salable / rentable area
(saleable area)
|
|
|
|
|
|
|
|
m2
|
|
|
|
Forecast of extra
clippings that the property will generate
|
|
|
|
|
|
|
st
|
|
|
|
Number of years that
generated press cuttings are distributed
|
|
|
|
|
|
3
|
year
|
|
|
|
Cost to place an ad in
the same media and formats
|
|
|
|
|
|
1.500
|
€ / clipping
|
|
|
Correction factor, to
adjust the ad value to the value of editorial
|
|
|
|
|
|
2,0
|
|
|
|
|
A total publicity value:
|
|
|
|
|
|
€
|
|
|
|
A total publicity value:
|
|
|
|
|
|
|
|
€/m2
|
|
|
|
A total publicity value
per year:
|
|
|
|
|
|
€
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|