Categories: Sustainable Commercial Buildings, Processes and Tools Sectors: Owners
470 Collins Street, Melbourne will undergo a $720,000 retrofit to reduce its energy costs by 30 percent, financed through an environmental upgrade agreement (EUA) with Low Carbon Australia, National Australia Bank and Eureka Funds Management.
The 1970s 15-storey office block will have a cooling tower, two efficient condensing systems, a new building management system and energy efficient lighting installed.
“This upgrade will help better position the property in the market place by reducing energy costs, improving the building’s environmental performance and is great for tenants,” building owner, Sam Suleman says.
EUAs provide project finance which can remove the need for up-front capital and be paid back through rate notices.