Latest figures from the Green Building Council of Australia show Adelaide currently has the largest quantity of green office floor space in Australia.
Property Council Executive Director, Nathan Paine said, “Currently we have 80 882 sq m of Green Star Certified office floor space in Adelaide. This compares very favourably to the entire Victorian market, which is the runner up at 67 717 sq m.
“What is more surprising is we are comfortably ahead of Sydney, the nation’s largest office market, with only 37 537 sq m of Green Star rated floor space. Whilst we
expect this to change, we are delighted Adelaide is setting the pace.
“According to the Green Building Council data, commercial buildings account for 8.8 per cent of national greenhouse emissions. We are very proud Adelaide is leading the pack in meeting Australia's international greenhouse obligations,” Mr. Paine said.
“Adelaide’s property sector is not just seen as a national leader in sustainable development, but has attracted significant global attention.
“This is best illustrated by several German investment funds who have bought properties in Adelaide to bolster their green portfolios,” said Mr. Paine.
In the past 12 months, German super fund Real I.S purchased 151 Pirie Street for $61 million, along with Sachsenfonds paying $156 million for the Flinders Link development and Caversham Property’s City Central Tower Two, for circa $80 million.
“We are pleased Adelaide boasts the largest Green Star Certified project in Australia, with the 21 storey ANZ House in the City Central Development, purchased by Colonial First State for $143 million.
“This clearly demonstrates that tenants are driving the push for green office accommodation.
“As a result, the property industry has responded to demand through innovative products, making the sector well placed to meet the State Strategic Plan’s climate change targets.
“The good news is the property industry’s green momentum is set to continue.
“We still have a further nine Green Star Certified buildings to come on stream. This will mean an extra 104 715 sq m of green floor stock in the foreseeable future.
“I suggest we abandon the ‘city of churches’ label in favour of something with a green tinge.”
The Green Building Council of Australia is a national, not-for profit organisation. The Council's mission is to develop a sustainable property industry for Australia and drive the adoption of green building practices through market-based solutions.
The Green Star Rating System is Australia’s first comprehensive method for evaluating the environmental design and performance of buildings. This is based on criteria including energy and water consumption efficiency, indoor environment quality and resource conservation.
For more information please contact:
Nathan Paine, Executive Director, Property Council of Australia (SA), (08) 8236 0900 or 0448 445 177