205 Queen Street achieves 'excellent' NABERSNZ rating
The landmark two-tower complex at 205 Queen Street, Auckland has achieved an ‘excellent’ 4-star NABERSNZ rating for energy efficiency.
The building is owned by Auckland City Holdings and managed by New Zealand’s largest listed property company, Kiwi Property.
Completed in 1990, the complex is also rated 5 Green Star Design and comprises 25,672 sqm of office space with ground floor retail and a large atrium.
NABERSNZ is an independent sustainability benchmark for energy efficiency, with a scale of one to six stars. The base building NABERSNZ rating of 205 Queen Street covers energy efficiency of all landlord-supplied services such as heating, ventilation and air conditioning, lifts and shared lighting.
James Seymour, Commercial Manager for Auckland City Holdings Limited, said “following the implementation of extensive sustainability initiatives within our Australian portfolio, where NABERS ratings are required, we are eager to implement similar initiatives within our expanded portfolio including 205 Queen Street. Having seen the occupier market embrace sustainability as a requirement of their property search, we recognise the benefits to tenants that occupy a sustainability-focused property and it becomes a key message within our marketing.”
Jason Happy, National Facilities Manager for Kiwi Property, said “The independent NABERSNZ rating enables tenants to have confidence that the building is well managed.
“Building on a number of years of upgrades and improvements, several further energy efficiency upgrades have been completed over the past 12 months to achieve the excellent score – including separate metering of retail and office spaces.
“NABERSNZ is an invaluable tool for owners and building managers to track performance and the likely impact of works. We used NABERSNZ as the benchmark so we knew 205 Queen Street was tracking at around 3.5 stars. That helped us make investment decisions required to reach 4 stars.
“It sends a very positive message to tenants about the landlord’s and our commitment, as property manager, to the building, and to future investors about the quality of the asset. The intention is to make further investments and push the rating up to 4.5 stars. We have detailed plans in place and will be working on progressive upgrades over the next couple of years.”
As well as managing the building, Kiwi Property is the previous owner of 205 Queen Street. It was sold to Australian-based property investment company Auckland City Holdings in 2014.
Kiwi Property (NZX:KPG owns and manages a $2.7 billion property portfolio, comprising shopping centres and prime office buildings, including ASB North Wharf and Vero Centre in Auckland, and three Wellington office buildings including The Majestic Centre, The Aurora Centre and 44 The Terrace.
Mr Happy said “Kiwi Property is committed to using NABERSNZ across its portfolio, and is putting plans in place to take all of our core property assets to a 4.5 star base building rating.”
NABERSNZ is licensed to the Energy Efficiency and Conservation Authority (EECA) and administered by the New Zealand Green Building Council (NZGBC).
NZGBC Chief Executive Alex Cutler said “it was pleasing to see a significant portfolio owner such as Kiwi Property using NABERSNZ as a management tool.
“The value of NABERSNZ is its transparency. Kiwi Property is not only declaring the current performance of its portfolio, but is also committing very publicly to improve that performance and to use NABERSNZ on an ongoing basis – that sends a powerful message to the market,” she said.
The NZGBC is also a tenant at 205 Queen Street. “We can attest that it’s a great space to work – and we will soon get our own tenancy NABERSNZ rating to provide even better visibility on energy performance,” said Ms Cutler.
205 Queen Street’s rating was carried out by NABERSNZ Assessor Neil Purdie of Harrison Grierson.