In cooperation with a large group of institutional investors, including Q-Park shareholders, GRESB gathers information about sustainable performance of real estate companies and property funds. However, we believe that parking facilities cannot be compared to other commercial and industrial construction and consider that we fall into the category of an operational company rather than a real estate company.
For this reason there are material differences between the reporting needs of the GRESB benchmark and the reporting needs of our stakeholders, which influence the results. Naturally, we will continue to monitor the valuation of this benchmark among our shareholders.
BREEAM In Use
In recent years, Q-Park has made considerable effort to establish a BREEAM certification for existing parking facilities. This has proven to be a difficult process given the nature of the investment property. We have had to conclude that it is not feasible to establish BREEAM for existing parking facilities, but this is possible for new construction.