99 St Georges Terrace is a 13-floor office tower with podium level retail suites set in a prominent corner location near Howard Street in Perth CBD. The property is managed by Colliers International (WA) and the HVAC is maintained by BSA Limited using a Tridium Niagara Building Management System.
Perth’s recent market downturn and resulting low occupancy situation have pushed the building’s NABERS Energy Performance down to Zero (0.0) Stars.
This made attracting tenants to vacant floors and suites a difficult proposition for Colliers International (WA). Also, the building’s ageing plant and equipment posed significant reliability issues for BSA Limited, resulting in escalating operational and maintenance costs for the landlord.
The Owner sought guidance from Colliers International to develop a strategy to address these issues and increase the building’s commercial attractiveness for potential tenants and buyers. Colliers International engaged Ecosave – a fast-growing Tier-1 Energy Services Company (ESCO) since 2002 and Australia’s largest independent provider of turn-key energy conservation solutions and guaranteed energy savings projects.
Click here to read this Case Study – learn how Ecosave’s Services Agreement has addressed these issues for the owner of 99 St Georges Terrace.
Summary
- Ecosave Services Agreement (ESA) Guarantees 4.0 Star NABERS Rating (formerly 0.0 Stars)
- Building owner gets free energy efficiency upgrades through the ESA: No upfront capital, no debt and cash-flow positive proposition – solves the split-incentive challenge typically associated with commercial building upgrades.
- Proactive value-add asset strategy by the Property Manager to address low-occupancy challenges.
- Major works completed by Ecosave in July 2018
- Already, since the completion of major works, Colliers International have seen increased market demand for this property and secured new tenants.
Click here to read the 99 St Georges Terrace Case Study in full.
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