THE GRADEMETER:A CLEAR,OBJECTIVE AND SIMPLE TOOL TO MEASURE THE QUALITY OF OFFICE BUILDINGS AND HELP INVESTORS,DEVELOPERS AND OCCUPIERS IN CHOOSING THEIR PROPERTY

Federico Donda

ERES from European Real Estate Society (ERES)

Abstract: The GradeMeter is a measurement tool that assigns a Quality Grade to office buildings. The main objective of the GradeMeter is to serve as an objective, clear and simple tool for occupiers, developers and landlords in measuring the quality of all office buildings, based on an international benchmark. The difficulties linked to an excessively subjective definition of quality, in conjunction with increasingly strong pressure by occupiers and the growing need to make the market more transparent and align products to European standards, have driven Jones Lang LaSalle to create this new tool. Todayís practice to asses the Grade of a building is generally subjective and related to the real estate characteristics of the Country in question and often based on the subjective considerations of the individuals in charge of evaluating the quality of the building. The starting point for the construction of this simple tool was the awareness that the selection of a building depends on three factors: Location, Quality and Cost. The GradeMeter measures one of these factors: Quality. The features and technical characteristics of a building impacting its Quality are grouped into three macro-categories: 1. Technology; 2. Commercial Quality and Comfort; 3. Efficiency and Flexibility. // For each of these aspects Jones Lang LaSalle set a series of characteristics to which a score has been assigned. The final score calculated by the model provides a number associated to a Grade, which varies from A+ to C. For the first time, wherever you are in the world you could easily ìGradeî a property. This revolutionary tool could ensure occupiers and investors about the quality of their buildings, and support developers in ìraise the barî and built product that will exactly respond to market request.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2010-01-01
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