44 The Terrace scores ‘excellent’ NABERSNZ rating

44 The Terrace scores ‘excellent’ NABERSNZ rating

A 1980s Wellington office building owned by Kiwi Property Group has been awarded a 4.5 star ‘excellent’ NABERSNZ energy rating, reflecting a 10-year focus on energy efficiency.

The 12-storey office complex at 44 The Terrace was built in the 1980s and houses mainly government tenants, including the Commerce Commission, Tertiary Education Commission, Human Rights Commission and the Energy Efficiency and Conservation Authority (EECA) - also the licensee of NABERSNZ.

Building tenant Mike Underhill, Chief Executive of EECA, said it was extremely positive to know the base building had ‘excellent’ energy efficiency. “We know how much energy our own tenancy uses – now we have a clear view of our building’s efficiency overall. NABERSNZ gives a new transparency for tenants and landlords, paving the way for positive collaboration. As a tenant, we’re looking forward to working further with Kiwi Property to support their energy improvement plans.”

Kiwi Property (NZX:KPG) is the largest listed property company on the New Zealand Stock Exchange and a member of the NZX15 Index. It owns and manages a $2.1 billion portfolio of real estate, comprising shopping centres and prime office buildings.

Jason Happy, Kiwi Property National Facilities Manager, said the ‘excellent’ rating was independent proof that its decade-long programme of work at 44 The Terrace had yielded results. He said as part of its group-wide commitment to environmental efficiency, Kiwi Property had carried out a number of energy-related projects at the site, focused particularly on commissioning and fine-tuning base building services. The 4.5 star NABERSNZ rating shows the building consumes 76.3 kWh of electricity per square metre.

“Public sector tenants have a strong focus on value for money, so it is important that we can demonstrate the building is well-run and energy efficient. NABERSNZ is a useful tool for us as owner - it benchmarks the building against other properties, and also gives a base line for improvement. We have a long term plan that should lead to a higher rating next time.”

NABERSNZ is administered by the New Zealand Green Building Council (NZGBC). Chief Executive Alex Cutler said NABERSNZ demonstrated tangible value to both owners and tenants. “NABERSNZ rewards better performing office buildings. A higher rating is a lower-risk option for tenants, making the decision-making process easier. We’re already seeing NABERSNZ starting to be specified in lease agreements, which will drive improvement across our commercial stock. We congratulate Kiwi Property Group not only for an excellent rating, but also the commitment to keep improving.”

NABERSNZ is the New Zealand scheme that benchmarks office building energy efficiency on a scale from 1 to 6 stars. Ratings are based on 12 months’ energy use, and can be carried out for whole buildings, tenancies, or base buildings (covering common areas and services provided by the landlord).

The NABERSNZ rating was carried out by Hampton Jones Property Consultancy.

ENDS

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