For global real estate management firm JLL, participating in the Sustainable City Incentive Scheme simply made sound business sense.
The company was keen to improve the NABERS (National Australian Built Environment Rating System) rating for the premium office building it manages at 45 Pirie Street, Adelaide by installing a large solar array, and a rebate reduced expenditure on the investment by around 3%, helping to deliver a positive long-term return to investors.
Under the scheme, JLL was approved to receive up to $5000 on a percentage scale against total expenditure.
“We wanted to improve both capital value and rental returns through improved sustainability credentials of the asset,” said JLL’s Director of Engineering and Operational Solutions in South Australia, Paul Lemmey.
“The system has produced an average 12.5MWh of energy per month since commissioning, saving the owner around $2500 in energy costs from the grid per month.”
Mr Lemmey said the Incentives Scheme sent an important message to property investors that Adelaide was serious in the promotion of low carbon investments to the broader property market.
“This is being readily taken up to bring significant benefit to not only the owners of the assets and their tenants, but to the broader global fight against climate change,” he said.