The Clean Energy Finance Corporation is contributing $68 million to a property development in Geelong, Victoria, to ensure market-leading 5.5 star standard under the National Australian Built Environment Rating System.
The $120 million project will transform the original heritage Dalgety & Co. building into a 14-level commercial office tower, to be used as headquarters for WorkSafe Victoria.
The Quintessential Equity development is the CEFC’s largest commercial office investment. As a result of the funded improvements, the site will become the first multi-storey Victorian commercial office building outside of the Melbourne CBD to achieve a 5.5 star NABERS energy rating.
CEFC chief origination and transactions officer Paul McCartney said ensuring the building was constructed to a higher standard than otherwise planned reflected the CEFC’s strategy to drive Australia’s commercial property sector towards carbon neutral buildings.
The upgrade will include:
- Replacing 600 kW aircooled chiller with 900kW water cooled chiller and 1500kW cooling towers.
- Enlarging pipework sizing and upgrading all pumps to reduce energy usage.
- Adding a proprietary central plant controller to optimise performance of chillers, pumps and cooling towers.
- Replacing 2 x 381kW standard water heaters with 2 x 432kW high efficiency water heaters.
- Replacing 3,500sqm of base building lighting with very low energy light fittings.
- Significantly increase in photovoltaic coverage to the roof and including higher efficiency systems.
- Upgrading façade to include thermally broken mullions and higher performance glazing.