Everybody’s ‘going green’ and you should, too.
In fact, according to the Australian Trade Commission, over 20% of Australia’s CBD office spaces are considered ‘green’.
Green buildings account for a lower annual operating cost and greater efficiency in asset management. Green Building Council of Australia noted that “local case studies demonstrate a 60% reduction in water and energy consumption which can reduce annual operating costs from $120 per sqm to $60 per sqm.”
Because green buildings are designed to manage water and energy more efficiently, they enjoy lower general operating costs - often a killer for commercial businesses. According to the Green Star rating system, these buildings “use 66% less electricity and 51% water than the average Australian building.”
The 2% upfront costs also offer an average saving of up to 20% of total construction costs, which is ten times the initial investment.
Furthermore, a “5 Star Green Star-rated office of 5,000 square metres would save $18,200 a year in electricity costs alone.”
These are significant numbers to consider when looking to commercial, green buildings.
The first structure in the world to achieve a perfect Green Star rating was Melbourne’s Pixel Building. $1 Million in revenue was actually attributed to this classification.
Green buildings also enjoy higher tenant retention and attraction rates. Businesses are looking to carry out their corporate responsibility, and green commercial buildings support this cause. In fact, studies show green buildings have a lower vacancy rate of up to 3.5%.
Environmental benefits of green buildings:
The value in residential green buildings include:
Healthier homes: Green homes are happy homes. They look out for the overall well being of its occupants. On a daily basis, individuals are exposed to fewer toxins, lots of natural light (Vitamin D) and reduce the impact of respiratory illnesses because of this.
Greater Investment: Energy Efficiency rating and house price in the ACT (2008) has indicated there is a 2% increase in capital in being green.
Save the environment: Green residential structures support the reduction of greenhouse gas emissions. Solar panels, water management systems, waste and recycling management and landscaping of native plants, all reduce our environmental footprint.
The Green Building Council of Australia case study of The Redfern Housing Redevelopment found,
“Water-efficient fittings and fixtures, as well as the reuse of rainwater and treated greywater, which is saving 4,700 cubic metres of water a year – the equivalent of two Olympic-sized swimming pools or 33,571 bathtubs. The cost savings amount to $7,500 a year across the entire tenancy."
To summarise, both types of greenbuild receive high market recognition. Sustainable properties are positioned favourably in the market, demonstrating social awareness and environmental consciousness.
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