St James' Hall

The owner of St James' Hall used building upgrade finance to fund a $700,000 upgrade to make their building more energy efficient. Works included 2 replacement chillers, variable speed drives, a new building management system and a lighting upgrade. By using this kind of finance the building owner will pay only $538,000 for the upgrade.

The major savings are achieved through tenant contributions to repayments permitted under this type of finance.

The tenant contributions, expected to be $339,000 over the 7 year loan term, are equal to approximately 40% of the project’s total financing costs.

A 30% reduction in base building energy use will be achieved through the upgrade, saving $56,000 a year. Once the loan is paid off the tenants and owner will continue to benefit from a more energy efficient building and continual reduced outgoings.

Read the full case study.

Frasers Property – Broadway development

The City's first environmental upgrade agreement (EUA) was signed with Eureka and Frasers Property in 2013 to install a gas-powered trigeneration plant at the Broadway development. The historic $26.5 million agreement made way for the highly-efficient plant to supply low-carbon thermal energy to around 4,000 Central Park residents as well as retail and commercial space. 

Frasers used the EUA funding to install two-megawatts (MW) of trigeneration capacity, running on natural gas and producing low-carbon thermal energy to provide heating and cooling for 3,000 residences and 65,000sqm of retail and commercial space in 14 buildings at Central Park. 

It is estimated the use of trigeneration could reduce greenhouse gas emissions by 190,000 tonnes over the 25 year design life of the plant – the equivalent of removing 2,500 cars from our roads every year for 25 years.

Watch the video below to find out more about the Frasers Property EUA project.

Country Centre, Castlereagh Street

On 10 October 2013, the City of Sydney signed an EUA between Country State Development, Eureka Funds Management and the National Australia Bank.

The EUA has funded a $1.9 million building upgrade that includes lighting, air-conditioning, hot water and lift upgrades to the Country Centre in 74 Castlereagh Street, Sydney.

 

When completed, the upgrade is estimated to save approximately 640 megawatt hours in energy consumption, 678 tonnes of carbon emissions and 1.2 mega-litres of water consumption each year.

The EUA mechanism allowed the building owner to recover some of the financing costs from their tenants once the works are complete and the tenants are benefiting from reduced utility costs.

Readers Digest Building

On 9 June 2015, the City of Sydney signed its fourth EUA between Intrasia Oxley Pty Ltd, Eureka Funds Management and the National Australia Bank. The EUA funds a $1.2 million building upgrade that includes lighting, air-conditioning and the building management system to the Readers Digest Building in Waterloo Street, Surry Hills.

The annual cost savings are estimated to be $189,000, saving approximately 800 megawatt hours in energy consumption and 850 tonnes of carbon emissions each year.

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Last updated: Thursday, 5 October 2017