Low Carbon Australia’s CEO Meg McDonald addressed the Property Funds Association Conference at Sanctuary Cove on the Gold Coast about the opportunities that existed for transforming existing buildings into greener, more highly desirable commercial space.

 

"While businesses are focused on the impending introduction of carbon pricing, they haven’t lost sight of the fact that we are already in an era of rising energy prices that are increasing building operating costs, which ultimately can lead to an impact on valuation prices," she said.

 

"But the threat of increased costs can also provide the incentive to act now to create greener commercial properties."

 

Ms McDonald said upgrading commercial buildings to make them more energy efficient had a range of advantages including:

  • Increased attractiveness to tenants looking for greener, more energy efficient premises
  • Prospect of higher rental returns based on evidence that higher NABERS (National Australian Built Environment Ratings System) ratings deliver higher rates of return
  • Improved property values
  • Compliance with compulsory NABERS disclosure at sale and lease

 

Low Carbon Australia, which was established by the Australian Government in 2010, partners with major financial institutions and utility services including Origin, NAB, Macquarie, Alleasing and FlexiGroup to provide financial packages to allow the commercial property sector to upgrade buildings with energy efficient equipment and systems.