The rising relevance of the 'S' in ESG – How real estate can build community value.

Name: Wanaka Partners
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01 Sep '25 Sustainability

In real estate investment, ESG has become more than a framework; it is an imperative. While the environmental and governance dimensions have received sustained attention, the social component has often lagged behind. Yet for long-term investors, the ‘S’ in ESG presents both a challenge and a significant opportunity.

At Wanaka Partners, we see social value not as a ‘nice-to-have’ but as central to long-term performance. We have embedded community activation into our sustainability approach, creating places where people connect, participate and feel a sense of belonging, ensuring that assets remain relevant in a real estate industry increasingly exposed to obsolescence risk.

From tenants to communities

Traditional real estate treats buildings as isolated financial assets. Our approach begins from a different premise: every property sits within a web of relationships with tenants, neighbours, local authorities and community organisations. When those relationships are strong, assets become more resilient. When properties actively contribute to their local ecosystems, value increases both socially and financially.

Community activation is not just about hosting events or improving public spaces. It is about cultivating trust, belonging and shared purpose over time. This sense of connection directly influences how people experience a building. When tenants feel part of a vibrant and supportive community, their satisfaction and wellbeing improve. Higher satisfaction leads to lower turnover, as tenants are more likely to renew leases. It also becomes easier to attract new occupants.

The result is improved occupancy stability, stronger tenant relationships and a more resilient cash flow profile. In a market increasingly exposed to obsolescence risk, this human-centred resilience becomes a competitive advantage. This mindset underpins how we manage multi-tenant sites, with tangible results across everything from tenant attraction to long-term retention.

Case Study 1: Zuiderpoort – Building belonging

Zuiderpoort Office Building in Ghent exemplifies how a well-structured community strategy can reshape a large-scale office complex. A local community manager is dedicated to connecting tenants, neighbours, local businesses, and public authorities, fostering collaboration and turning the site into more than just a workplace.

Beyond day-to-day communication with tenants and managing both internal and external communication, the community manager leads the implementation and co-development of the social activation programme. At Zuiderpoort, this includes an annual calendar of over 250 activities, with more than 3,500 participants since the programme's launch in mid-2024. The goal is to strengthen ties across diverse groups, create a shared identity within the local urban fabric, and contribute positively to the wider surroundings.

In the first year alone, 89% of tenants at Zuiderpoort reported being satisfied or very satisfied with the social activation programme — a significant increase from just 37% the previous year.

Social activation Case study Zuiderpoort

Two components of the social activation programme that stood out include:

The River Clean-Up Cup, which brought tenants together in a spirit of friendly competition to contribute to the local community. Each year, for five weeks, tenants form teams to collect as much waste as possible from the adjacent river using Zuiderpoort’s own canoes. The 2024 season concluded with over 500 kg of waste removed from the river. This initiative brings together tenants and local residents to promote environmental stewardship and informal connections, while making an actual impact on the local community and environment.
Run the Loop, Zuiderpoort’s annual running event, deepened its social impact through a partnership with Sociaal 9050, a local organisation focused on civic inclusion and neighbourhood solidarity. By linking physical activity with social engagement, the event promotes health, social inclusion, and community spirit — reinforcing Zuiderpoort’s role as an active and socially aware community hub.

Case Study 2: Axis Parc – Connecting biodiversity and social engagement

At Axis Parc, our office park in Mont-Saint-Guibert, we have placed a strong focus on linking the social activation programme with the site’s environmental ambitions, particularly its biodiversity strategy. The carefully designed biodiversity programme supports ecosystem health while also engaging tenants and the wider community.

Over the past year, the biodiversity-focused component of the social activation programme has included, for example: orchard workshops, the installation of informal outdoor meeting areas, participation in beekeeping activities which produce honey and provide environmental education, and even a bird conservation initiative involving the placement of 45 nesting boxes throughout the park. This integration of green infrastructure, eco-friendly landscaping and social programming creates a setting where tenants feel grounded, healthy, and connected to their surroundings.

Building on this foundation of wellbeing in nature, Axis Parc also fosters social vitality and human connection through its “Moonshine Afterwork” events. This initiative, led by a local grassroots organiser in collaboration with Axis Parc, provides a vibrant and inclusive space for employees, local residents, and the broader regional community to gather and unwind. Held outdoors in one of Axis Parc’s open-air car parks during the summer months of June, July and August, each edition of Moonshine attracts over 1,200 participants.

By offering a platform for social interaction, cultural expression and local business visibility, community management at Axis Parc strengthens the social fabric of the site’s ecosystem. This partnership not only enhances employee wellbeing and work-life balance, but also reinforces Axis Parc’s role as a key player in nurturing community ties and promoting a dynamic, people-centred environment.

The success of this social activation programme is reflected not only in tenant feedback during leasing discussions and renegotiations, but also in the widespread media coverage it has received in the Belgian press.

Measuring what matters

For us, social impact is not a vague ambition or promise, it is something we measure and learn from. With every initiative, we ask a simple question: does it make a difference? To answer that, we listen closely to our tenants and partners, and track indicators that genuinely reflect community life; from satisfaction with the building and amenities, to participation in events, engagement with communications, and feedback from local stakeholders.

Over time, these insights consistently point to one conclusion: stronger communities lead to happier tenants, greater stability, and assets that perform more reliably in the market.

S as the differentiation factor

Over the past years, environmental performance has rightly taken centre stage in real estate investment. Today, it remains essential. Yet what was once a differentiating factor has now become the minimum standard.

At Wanaka Partners, we believe the next frontier is clear: the wellbeing of tenants and communities. Social impact is rapidly rising on the agenda of institutional investors and is increasingly viewed as tomorrow’s true differentiator. For us, this is not a passing trend but a core mission; creating places where people feel healthy, connected, and supported. When tenant wellbeing is prioritised, buildings become more resilient, communities grow stronger, and investments become more sustainable.

That is why we see the role of real estate managers evolving: no longer simply asset operators, but community stewards who understand that lasting financial performance begins with people.

At Wanaka Partners, we transform social value ambitions into tangible strategies and results. Through dedicated on-site community management, tailored activation programmes, and robust impact measurement, we support investors in creating resilient assets that deliver both social and financial returns.