LGS wins Property Council Award for the best sustainable development of an existing building
- Details
- Published: Thursday, 05 July 2012 13:48
LGS has been committed to responsible and sustainable investment now for more than a decade. That commitment has seen LGS rated as Sustainable Super Fund of the Year, the top-rated fund in preparedness for investment in a low carbon future by the Climate Institute for successive years, winner of the Best Green Super Fund from Money Magazine and the winner of SuperRatings Infinity Award both in 2011 in 2012.
That commitment has driven improvements in the sustainability of the directly held property portfolio.
LGS owns 120 Sussex Street in Sydney - a 21-year-old office building which is the first CBD building in Australia to receive a 5½ star NABERS Energy rating. The upgrade of the building carried out by LGS reduced energy consumption by 54%, making it the lowest energy-intensive CBD building in Australia, as well as reducing water consumption by 46%.
This was done using leading Australian lighting, air conditioning and chiller technology, and the full upgrade was completed at a final cost of only $160 per square metre. These are the factors that drove the Property Council of Australia to provide this prestigious award to LGS. Anyone can build sustainable new buildings, the challenge is what to do with existing building stock.
Lower running costs, fully tenanted and more satisfied tenants means long-term sustainable returns for LGS members and the planet.