Team Conversion

Tertiary obsolescence diagnostic: securing the value of your assets before 2030

1 billion sq m under pressure: is your asset on the right side?

A Paris-region tertiary asset built before 2005 that misses the OPERAT -40% trajectory by 2030 exposes itself to a significant discount in its appraised value. For an asset manager, an obsolescence assessment is not a technical audit: it is a tool for steering market value, admissible before an investment committee. Since 2006, the Kytom method combines four dimensions: technical deterioration, regulatory compliance (OPERAT, BACS), use appeal and energy performance within the meaning of the EED directive. The objective is singular: produce a quantified obsolescence score to arbitrate between repositioning, major restructuring or disposal, on assets whose average audited floor area stands at 850 sq m. Deliverable: a 40 to 60 page report produced in 6 to 8 weeks.

The French tertiary stock represents around 1 billion sq m (ADEME, Chiffres-clés du bâtiment 2023, p.12), of which 75% were built before 2000. The tertiary decree imposes, via the OPERAT platform (ADEME), a quantified trajectory relative to a reference year later than 2010.

| Deadline | Reduction in energy consumption |
|—|—|
| 2030 | -40% |
| 2040 | -50% |
| 2050 | -60% |

Non-compliant assets automatically slide into stranded assets: unsellable, under-leased, discounted. Across our recent Paris-region portfolio, vacancy proves noticeably more persistent on buildings predating the latest RT generations than on new or renovated assets.

Three challenges structure asset managers’ demand:

Financial: securing appraised value and exit liquidity.
Regulatory: anticipating OPERAT, BACS (decree of 20 July 2020), the regulatory energy audit and the European green taxonomy.
Leasing: capturing demand from tenants who require BREEAM In-Use, HQE Exploitation (Certivea) or WELL (IWBI) to sign a 6/9 year lease.

What is the turnaround time for an obsolescence assessment on a Paris-region tertiary asset?

Kytom allows 6 to 8 weeks between document collection and delivery of the final report, embedded within an average project timeline of 12 weeks including arbitrations at the investment committee. The field audit mobilises 3 experts (architect, building services, uses) for 1 to 2 days depending on floor area. The deliverable, a 40 to 60 page report, is designed to remain admissible before decision-making bodies.