At Fort Street Real Estate Capital, we believe we have a social and economic responsibility to reduce our impact on both the local and global environment. That is why we are committed to and invested in improving the environmental, social and governance aspects of our assets.
Improving in these areas has the potential to provide not only an environmental return for the local and global community, but positive financial returns for our investors as well. Solar panel installation has proven to reduce the electricity expense across a number of our assets. Additionally, several current and prospective tenants have their own sustainability and environmental targets that guide decision making within their business. Effectively, improving the sustainability of our assets has the potential to lower costs for both tenants and ourselves, increase asset income, improve tenant retention and increase the assets value.
Total solar capacity installed:
- Lynbrook Village 370kW
- Toormina Gardens 300kW
- Birkdale Fair 300kW
- Noosa Village 250kW
- Marketfair Campbelltown 100kW
- Northpoint Shopping Centre 100kW
- 241 O’Riordan Street, Mascot 90kW
- Windsor Riverview 60kW
- Hilton Plaza 40kW
- Total 1,610kW (1.6MW)
Our solar systems are expected to generate approximately 2,347,000kWh of clean energy per year, reducing our carbon footprint by approximately 1,920 tonnes of CO2e1 every year.
This is enough clean energy to power approximately 605 homes2, and is equivalent to taking approximately 560 cars3 off the road.
1 NATIONAL GREENHOUSE ACCOUNTS FACTORS, Australian National Greenhouse Accounts, July 2017
2 Australian Energy Market Commission 2017 Residential electricity price trends: report 2017
3 Survey of Motor Vehicle Use, Australia, 12 months ended 30 June 2016