Global research shows that green buildings outperform non-green buildings on all investment criteria, on average achieving rental premiums of 6%, capital value improvement of 12% while reducing operating costs up to 30%.
Several properties, including Cape Quarter, have either undergone or are undergoing extensive transformation as part of the group’s greening and occupancy cost reduction strategy. Common area lighting has been replaced with energy efficient LED lighting. The return on investment is significant with the Tower Property Fund generating a yield of greater than 20% after sharing the savings with tenants. Lighting retrofits also have a positive, aesthetic effect on the properties as previously darkened areas now appear lighter, aiding to improved line of sight particularly in retail centres.
To date, Tower has installed close to 800kWp of rooftop PV solar power across the country, these systems are generating power at an expected combined output of approximately 1300MWhs per annum. This equates to approximately 1 280 000 kg of C02 offset per year which equates to 4 937 015km driven by an average passenger vehicle or almost 60 000 fully grown trees purifying the air. Tower will in the next few months complete another round of rooftop PV solar power plants.Through lighting
Through lighting retrofits Tower has reduced across the portfolio its buildings combined consumption by close to 1 900 000kWhs which equates to approximately 1 821 000kg of C02 offset per year. This is equivalent to diverting 578 000kg of waste from landfill to recycling or removing 385 passenger car per year from the road.
Email: Simon Penso