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Case Study

Millions saved and sustainability goals achieved for Colonial First State

10 Eagle street case study imageSituation

JLL and Colonial First State Global Asset Management (CFSGAM) developed NABERS improvement plans (NIP) for every site within the CPA portfolio. These improvements included elements such as metering/ monitoring, Capital improvement works, tenant engagement and operational management practices refinement. The aggregate of these improvements were required to arrive at targeted reductions in electricity, gas, water and waste.

Partnership

JLL and CFSGAM have had a long standing relationship in managing of assets for both the CPA and DPIF listed property trusts. In 2007, JLL and CFSGAM began on a journey to understand and improve the sustainability credentials of the assets within these funds. JLL have been partners in the process of auditing, actioning, managing and monitoring sustainability related projects and performance.

Results

Key achievements for the program include the following:

  • An estimated saving of $10 million in avoided costs for the client and their tenants

  • A NABERS energy portfolio rating average of 4.5 stars

  • A NABERS water portfolio rating average of 3.7 stars

  • Securing significant funding via the Green Building Fund for the client, (over $1.5 million)

  • CFSGAM has included a green lease schedule for all of its wholly owned A grade and upper B grade buildings as part of every new lease since November 2011. JLL has been instrumental in the schedule contents in particular the landlord obligations within the green lease, as well as the on-going commitment to the green leases.

  • Rollout of the Asset Efficiency Program (sub metering installed and monitored at the majority of sites)

  • 30.4% more energy efficient

  • 21.3% more water efficient

  • 30.2% lower emissions intensity