A TV monitor in the lobby of a Birmingham office and retail building has been credited with helping to cut energy consumption by over 55 per cent. This is the finding of the Climate Change Property Fund (CCPF) which owns and manages the building in the city’s central business district.
Retrofitting can result in a significant reduction in energy usage
CCPF specialises in buying commercial buildings to retrofit and was recognised as Europe’s leading sustainable office sector property fund in a 2012 industry survey. The fund also has buildings in London, Manchester and Edinburgh in its portfolio.
The Birmingham property, at the heart of the city’s central business district has benefitted from the installation of LED lights and improvements to the air conditioning system. While these modifications have led to a significant reduction in energy usage CCPF believes it is the television, screening real time information on consumption, which has generated even greater savings.
As a result the property, which prior to the retrofit, had an energy performance certificate (EPC) rating of G, has now obtained an improved C rating. What this means in practical terms is that tenants of 5 St Philips Place have made a 55 per cent saving on their energy bills over the past four years.
Tim Mocket of CCPF says that engaging with tenants has been crucial to making the improvements which would “not be possible without focused and informed collaboration.”
Recent research has found that only 23 per cent of office buildings in the UK have an energy performance rating of C or above.
This is certain to become increasingly significant over the coming years as, following last week’s legislation requiring certain commercial property occupiers to display an EPC, further legislation is on the way.
It is proposed that from April 2018 it will be unlawful to sell a property with an energy rating of less than E. However, speaking to GreenWise, CCPF joint managing director Esme Lowe says landlords should view adapting to the changes as “prudent risk management, not a burden.”
“By retrofitting and future proofing a commercial property we believe it is possible to add five to ten per cent to its value,” she said.
Previous Post
Damp December puts Downer on Greggs Sales
