R1: Reporting Characteristics
Assessment Instructions
Participants must report this metric at the asset level.
GRESB automatically populates this indicator in the assessment response once participants have aggregated asset-level data from the Asset Portal.
When using the Asset Spreadsheet to upload asset-level data, GRESB recommends reviewing the instructions below in conjunction with the corresponding spreadsheet tab. The Cell Code column in the Input section indicates where to report each metric in the spreadsheet.
Asset Portal Guide Click here to download a read-only version of the Asset Spreadsheet.
The entity’s standing investment portfolio during the reporting year
Do not edit.
TRUE/FALSE
%
Drop-down
Date - only if NOT a standing investment
Date - only if NOT a standing investment
Input: How do I complete this indicator?
Warning: Review the Reporting Scope Requirements
GRESB requires property companies and funds to report on their whole portfolio; this includes all operational real estate assets owned during the reporting year. See What are the participation requirements?for more information.
Data
Cell Code
Instructions
Asset Name, Property Type, Reporting Year
B-D4
These columns are automatically populated based on information from the Asset Characteristics tab.
DO NOT edit them.
Whole Building is Tenant Controlled Mandatory
E4
Select TRUE when the tenant has full operational control over the entire asset.
This means the tenant has the ability to introduce and implement operating policies, health and safety policies, and/or environmental policies without landlord involvement. A common example is when the tenant has a Full Repairing and Insuring (FRI) lease, meaning they are responsible for all building operations, maintenance, and performance data reporting (Energy, GHG, Water, and Waste).
Participants will then have to report all performance data (Energy, GHG, Water, and Waste) at the Whole Building level.
Select FALSE if any areas of the building are Landlord Controlled, meaning the landlord also has authority to introduce and implement policies. In this case, the asset is not considered Tenant Controlled. Then, define the reporting level within the Energy section.
Vacancy Rate Mandatory
F4
Vacancy rate is the percentage of unoccupied space within an asset, calculated based on its total net leasable area, NOT its rental value. Report the vacancy rate of assets for both reporting years as a percentage. For example, if the vacancy rate of an asset is 10%, report "10".
It is the opposite of occupancy rate, meaning: Vacancy Rate = 100 - Occupancy Rate
It should be calculated based on actual occupancy (where known). If not known, it should be calculated based on lease agreements and the lease space occupied.
Given that this measure fluctuates over time and is reported annually, the reported value should be time-weighted. The calculation methodology differs for:
1. Assets that were only operational for part of the reporting year:
If an asset is under development and becomes operational during the year (or vice versa), the vacancy rate should correspond to the period during which the asset was in operation. For example:
Entity A reports on the calendar year January - December. It acquired an operational asset on September 30th, 2025. The reported vacancy rate should only be calculated on October 1st - December 31st (unless the participant wishes to report performance data before the acquisition date. In that case, the vacancy rate should reflect the period of performance data reported).
2. Assets owned for only part of the reporting year:
If an asset was acquired (or sold) during the reporting year, the vacancy rate should only correspond to the period during which the entity owned the asset. For example:
Entity A reports on the calendar year January - December. It acquires an operational asset on September 30th, 2025. The reported vacancy rate should only be calculated on October 1st - December 31st (unless the participant wishes to report performance data before the acquisition date. In that case, the vacancy rate should reflect the period of performance data reported).
Example A
Asset A consists of 10 floors, all part of the lettable floor area ( the asset does not contain any Common Area).
All floors have the same area (i.e., 1,000 m2), The total asset size is therefore 10,000 m2.
Of these 10 floors, 8 are fully occupied, and 2 are vacant the entire reporting year.
Vacancy Rate = (vacant floor area) / (total leasable floor area) = 1 - (occupied floor area) / (total leasable floor area)
= 100% - (8,000) / (10,000) = 100% - 80% = 20%
Example B
Asset B has the same characteristics as Asset A. However, the 8 leased out floors are only occupied during the first 9 months of the year (e.g., January - September) and remain vacant for the last 3 months of the year (e.g., October - December).
Occupancy Rate = [ (occupied floor area) / (total leasable floor area) ] * [ (period of occupation) / (total period) ] = [ (8,000) ] / [ (10,000) ] * [9 / 12] = 80% * (9/12) = 60%.
Vacancy Rate (time-weighted) = 100% - 60% = 40%.
Example C
Asset C has the same characteristics as Asset A. However, Asset C was acquired on July 1st, 2025.
Out of the 10 floors, 8 are fully occupied, and 2 are vacant throughout the ownership period.
Occupancy Rate = [ (occupied floor area) / (total leasable floor area) ] * [ (period of occupation) / (total period) ] = [ (8,000) ] / [ (10,000) ] * [6 / 6] = 80% * (6/6) = 80%.
Vacancy Rate (time weighted) = 100% - 80% = 20%
If an asset was under New Construction or Major Renovation throughout the reporting year (see guidance below), the Vacancy Rate reported for that period is expected to be 100% (and will not be used by GRESB).
Guidance for unit consolidation - applicable to Residential Portfolios
To report a consolidated vacancy rate, participants should calculate the weighted average vacancy rate, with the weight based on floor area. Empty units should be included in the consolidation with a vacancy rate of 100.
Status Mandatory
J5
Select the status of the asset during the reporting year:
Standing Investment: if the asset was operating throughout the entire reporting year.
Note: If a standing investment asset was acquired during the reporting year and performance data is available for the period prior to acquisition (regardless of ownership), the asset should be reported as a standing investment for both years.
New Construction: if the asset was a brand-new building (i.e., not from a pre-existing structure) and was under design or development during the reporting year.
Note: Participants should not report performance data for any period prior to the 'Project Started' date for a New Construction asset. Data occurring before the start of the new construction period will not be reflected under R1 in the portal.
Major Renovation: if the asset underwent a renovation affecting more than 50% of the floor area or leading to the relocation of more than 50% of tenants at any point during the reporting year.
If selecting Major Renovation or New Construction, proceed to the Development Reporting Characteristics page for instructions.
Guidance for phased developments
When an asset is being expanded while currently operational or is constructed in phases with different completion dates, the separate phases should be reported as individual assets. The operational portion of the asset should be classified as 'Standing Investment' while the portion under development should be classified as 'New Construction.'
Once the additional phases are complete, the entity should combine the different phases into a single standing investment in the next reporting year. Please note that when the phases are combined, the asset will not be eligible for like-for-like comparisons in the first year of reporting.
Project Started/ Project
Completed Only if in the reporting year & if Status is not Standing Investment
K5 / L5
If column J (Status) = "Standing Investment", columns K and L are not applicable. The GRESB Portal will ignore any value reported in these columns. If a design, new construction, or major renovation project is finished before the end of the year, report performance data for the part of the year when the asset was operational. Common reporting scenarios for standing investments, development projects, or major renovations (calendar year January - December): Example A - Standing Investment Only
Asset A is operational since 1 July 2022 and has not been through major renovation since then.
Status selected in column J should read "Standing Investment" / columns K and L can be ignored.
The Asset Portal will expect to receive performance data for the entire reporting year for asset A.
Example B - New Construction Only
Asset B is under construction since 1 July 2020. The project is still ongoing as of 31 December 2026.
Status selected in column J should read "New Construction Project". Column K "Project started" can be left blank because it falls outside of the reporting year, and column L "Project completed" should be left blank as the project wasn't completed by the end of the reporting year.
The GRESB Asset Portal will not expect to receive performance data for asset B.
Example C - Major Renovation and Standing Investment
Asset C entered a Major Renovation Project on 1 January 2025. The project was completed on 30 October 2025.
The status selected in column J should read "Major Renovation Project." Column K "Project started" should read "01/01/2025," and column L "Project completed," should read "30/10/2025." Both dates should be documented because both are within the reporting year.
The GRESB Asset Portal will expect to receive performance data for asset C from the date the project was completed (i.e., 30/10/2025) until the end of the calendar year reporting year (i.e., 31/12/2025).
Validation: What evidence is required?
See the Asset Characteristics page for R1's evidence requirements.
Scoring
This indicator is not scored.
Frequently Asked Questions
One asset within my portfolio was demolished during the reporting year. How, or can, I report it in the Assessment?
Participants can report the asset as an owned Standing Investment until the demolition date. If you plan to build a new asset on the same owned land, report it as "New Construction" in column J of the Reporting Characteristics tab (using the commencement date as the project start date, provided you have the following parameters: property sub-type, location, GFA, and GAV contribution). Do not report vacant land if no design project began during the reporting year (Fiscal year or Calendar year, as selected in indicator EC4). If you no longer own the land or don't plan to rebuild, report the asset as a Standing Investment in column J of the Reporting Characteristics tab and complete the "Owned until" date in column I. Provide performance data for the period during which the asset was operational.
At what point in the development process is a project considered to be "completed" for GRESB reporting?
GRESB considers a project to be completed as soon as it is ready to be occupied by the tenants. From the completion day onwards, the GRESB Portal will require performance data if the reporting entity has chosen to submit the Performance Component.
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