The Gauge achieves a 6 Star Green Star rating
The Green Building Council of Australia (GBCA) has awarded The Gauge, the evolutionary new Lend Lease commercial development at 825 Bourke Street, Victoria Harbour, Melbourne, a 6 Star Green Star - Office Design Certified Rating - recognising world leadership.
The Gauge, designed and constructed by Lend Lease, is the first private sector, completed new building to achieve this rating. Significantly, it has delivered this environmental solution at a highly competitive construction cost.
Lend Lease Chief Operating Officer, Mr Ross Taylor, said The Gauge was another example of Lend Lease striving to set new sustainable milestones in the global property market, following the success of 30 The Bond.
"The Gauge is one of the very first new buildings to be acknowledged with a 6 Star Green Star rating for its design, and clearly demonstrates that leading sustainable technology and commercial viability can go hand in hand. The Gauge makes the business case for green buildings; and it sets a new global benchmark for Lend Lease's green building project portfolio," said Mr Taylor.
Lend Lease has drawn extensively on its cross business synergies to deliver a 6 Star Green Star office design. The Gauge was developed by Lend Lease Development, with project and construction management by Bovis Lend Lease and architecture by Lend Lease design. The building has been funded and is owned by the Lend Lease managed Australian Prime Property Fund (APPF) Commercial.
This integrated business model allowed Lend Lease to successfully refine the engineering processes, systems and materials, integrating and streamlining the techniques from beginning to end. Every component of The Gauge has been reconsidered and researched, not only in how it performs independently but how the system interacts as a whole.
"Globally, Lend Lease supports green building councils and rating tools in the places we operate. The achievement of 6 Star Green Star - Office Design rating underpins our determination to deliver sustainable solutions in everything we develop, build, own and operate," said Mr Taylor.
Lend Lease Investment Management Australia's Chief Executive Officer, Mr Tarun Gupta, said The Gauge is APPF's first 6 Star Green Star certified commercial office design and the first completed 6 Star new building to be offered for lease in a city location within the Australian market.
"APPF is very pleased to achieve the 6 Star Green Star - Office Design Certified Rating and we are now focused on achieving the complementary Green Star - Office As Built Certified Rating," said Mr Gupta.
"APPF is committed to sustainable practices throughout its portfolio and this asset is in line with this strategy.
"It is also an excellent example of the Lend Lease integrated business model benefiting our wholesale investors by delivering added investment value in both sustainable and financial terms."
The Gauge has registered for a Green Star Certified Rating in Office As Built with the Lend Lease workplace registered for the Office Interiors rating.
Romilly Madew, Chief Executive of the Green Building Council of Australia, said "at the recent 2020 Summit, I presented green buildings as a key solution to climate change and The Gauge exemplifies how this can be achieved. This building is not only a world leader with a 6 Star Green Star - Office Design Certified Rating, it is proof of the business case for more green buildings".
"I congratulate Lend Lease on their achievement, in particular for taking the achievements from 30 The Bond and pushing forward to deliver its next generation Green Star building," she said.
The 6 Star Green Star - Office Design Certified Rating follows the announcement of a lease agreement with Fujitsu, which will occupy the top four floors of the six-storey, 10,304 square-metre building. Levels 1 and 2 will become the Victorian headquarters of Lend Lease. It will bring together in one location the management teams of Lend Lease Development, Bovis Lend Lease, Lend Lease Retail, Lend Lease Ventures and Delfin Lend Lease.
Lend Lease has signed a 10 year lease with two five year options, for approximately 3,000 square metres. The ground floor incorporates public space, café and foyer areas with 1,322 square metres of retail space fronting Merchant and Bourke Streets.
Mr Taylor said this latest announcement adds further momentum to Victoria Harbour's rapid growth.
"Incorporating the announcement of the Myer development in August, a total of nearly 150,000 square metres of commercial office space has been confirmed in Victoria Harbour in just three years," said Mr Taylor.
Announced in April 2007 and named in October 2007, The Gauge achieved practical completion this month with occupation expected from June. The name was chosen to reflect the significance of measurement in ecologically sustainable design for commercial developments.
The Gauge responds to the two significant environmental challenges facing Australia, greenhouse gas emissions and water supply.
It is anticipated that water saving initiatives in The Gauge's design will reduce potable water consumption by a further 30 per cent when compared with typical existing 5 Star Green Star rated buildings, while the on- site electricity cogeneration system will reduce greenhouse gas emissions by over 30 per cent when compared to typical 5 Star Green Star buildings.
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