Six Star Green Star business parks are the future
GUEST OBSERVER
Owners and tenants are constantly seeking new ways to drive efficiencies and cost savings to future proof these parks and facilities.
In 2016, Frasers Property Australia completed its first 6 Star Green Star business park facilities in Rhodes Corporate Park (NSW), Horsley Drive Business Park (NSW), Ceva Campus in Truganina (VIC) and Yatala Central Industrial Estate (QLD). These projects demonstrate an unparalleled commitment to environmental and financial outcomes utilising cutting-edge sustainability initiatives.
Adopting the Green Building Council of Australia ratings
The Green Building Council of Australia (GBCA) is an independent, voluntary sustainability rating system for Australian buildings. Its Green Star rating is Australia's highly respected standard of quality for the design, construction and operation of sustainable buildings, fit outs and communities. Frasers Property has chosen this rating system to monitor its sustainability performance for its facilities as a direct result of the GBCA’s credibility within the property industry.
Further justification is the important role independent certification plays in the validation of sustainability outcomes. There is considerable dialogue about sustainability generally, however this is often not supported by credible third party validation. Green Star is Australia’s leading holistic rating tool for the property industry.
Improving sustainability ratings
The focus for Frasers Property is to deliver direct and tangible benefits to customers by reducing total occupancy costs and operating expenses, whilst also improving the health and wellbeing of employees. From a business perspective, the ongoing pursuit of improvement in sustainability ratings for facilities demonstrates a commitment to market leadership.
This approach is critical to future proofing facilities so they continue to deliver value and remain competitive. Everyone now lives and operates in a carbon constrained economy and buildings are a significant contributor to greenhouse gas emissions. Reducing each building’s carbon footprint assists not just in alleviating further stress on the environment but also to improve the financial bottom line.
Why is a 6 Green Star rating important?
In 2015 Frasers Property committed to achieving a 5 Star rating for all of its facilities which has delivered considerable operational savings and health benefits for customers. However, there was a strong aspiration in the business to do more by pushing the boundaries of what a truly sustainable industrial development could be.
Since the introduction of the Green Star approach, customers have firmly embraced the concept. This approach has also helped Frasers Property further align its values with its customers, with the shared commitment resulting in an even stronger bond between both. Further, the introduction of 6 Star was not only a considerable benefit to the environment but also provided enhanced financial benefits to customers as a direct result of reduced operating costs.
Frasers Property’s approach to improving the sustainability of facilities is driven by a desire to lower ongoing operating costs. Most new institutional grade business park facilities across Australia are rated 4 Star, however very little thought is given to customer benefits.
A standard 15,000 – 20,000 sqm 4 Star rated facility is expected to deliver annual average savings between $1.50 – $1.75 p/sqm when compared with a standard Building Council of Australia compliant building. By investing in targeted initiatives and technology to achieve a 6 Star rating, these savings could be increased by approximately 165 per cent over a 10 year term. This rating can also deliver a cash flow positive result for the occupant from year one. Frasers Property works with customers in a variety of facilities from ambient warehouses and refrigerated cold stores to automated storage and retrieval systems to find a solution that best suits their long-term needs.
Drivers sustaining 6 Star excellence
Frasers Property’s unrelenting focus is to be progressive and innovative to benefit both its customers and the communities in which it develops. In the pursuit of industry leading outcomes the intention is to initially educate the industry as to what is possible, and to then be the driver of that change.Beyond the choice it offers customers, this approach allows Frasers Property to benchmark not only what can be achieved but also how to improve. Green Star certification demonstrates that well designed assets can result in lower operating margins and provide future proofing against changes from a regulatory or utility cost perspective.
In 2016 Frasers Property delivered approximately 280,000 sqm of industrial facilities across Australia. Forty three per cent achieved a 5 Star Green Star rating which recognises Australian Excellence in sustainable design, while the 57 per cent balance achieved 6 Star Green Star ratings. Significantly, this rating acknowledges World Leadership in sustainable design.
Significant 6 Star benefits and features
The most significant benefits are the energy and water cost savings. Over the years, it has become clear that the way to ensure the longevity of facilities is to structure the outcome to benefit the consumer. The increased productivity of staff working in a space that promotes good design and environmental attributes is also a significant tangible benefit.
The features of 6 Star facilities are many and varied. A representative selection includes:
•Solar panels as an energysource.
•Rainwater tanks for toilet flushing and landscape irrigation.
•Electric vehicle car charging points.
•Geothermal energy for heating and cooling the office.
•High efficiency LED high bay lighting with sensor technology to improve light quality, control and efficiency.
•Advanced lighting controls that use motion sensors and daylight harvesting.
•Lower toxicity materials and finishes.
•Increased fresh air flow at 50 per cent more than required by the Australian Standard.
•Glare control through blinds and shading devices.
Overall customers benefit by using considerably less energy. The remaining energy required can be purchased as 100 per cent green power.
Green Stars have a bright future
Each year the property industry continues to be one of the biggest contributors to greenhouse gas emissions in Australia. Industry bodies like the Green Building Council of Australia play a crucial role in rating the country’s sustainable buildings. Influential property developers seek to create a legacy in the communities in which they develop. They have a responsibility to seek ways to reduce their carbon footprint, reduce the overall impact of buildings and to improve the health and wellbeing of those who use them. In the pursuit of excellence, intelligent thinking is required.
REINI OTTER is executive general manager at C&I Frasers Property Australia and can be contacted here.
