380 St Kilda Road

23rd March 2022

Mirvac acquired a 50 per cent interest in 380 St Kilda Road over 25 years ago, purchasing the remaining 50 per cent in 2001. In 2012, the 15 level, A-grade building had a 3.5 Star NABERS Energy rating and a 3 star NABERS Water rating. Over the past eight years, Mirvac’s in-house facilities management and technical services teams have focused on improving the environmental performance of the building, which has seen the asset reduce its greenhouse gas emissions by an incredible 70 per cent and its water usage by 44 per cent.

Mirvac acquired a 50 per cent interest in 380 St Kilda Road over 25 years ago, purchasing the remaining 50 per cent in 2001. In 2012, the 15 level, A-grade building had a 3.5 Star NABERS Energy rating and a 3 star NABERS Water rating. Over the past eight years, Mirvac’s in-house facilities management and technical services teams have focused on improving the environmental performance of the building, which has seen the asset reduce its greenhouse gas emissions by an incredible 70 per cent and its water usage by 44 per cent

Mechanical upgrades, which started in 2013, set a strong foundation for these reductions. In terms of water, this has included optimal sizing of a new primary chiller and cooling tower plant, followed by upgrades to more efficient taps and toilets across the whole building. A strong commitment to continuous improvement, close monitoring of energy and water consumption, and excellent maintenance practices have further strengthened this approach.

2. to halve our development waste.

As well as having a positive environmental impact, the improvements to the building have resulted in operational savings of over $450,000 per year, a potential valuation uplift of $8 million, and have improved the asset’s NABERS Energy and Water ratings to 5.5 stars and 5 stars respectively. Mirvac is now exploring future opportunities for the building, including decentralised hot water, rainwater harvesting and roof-top solar. The future is bright for 380 St Kilda Road.

 

Focus Area

 

Natural Resources Natural Resources