First Light Capital achieves 5 Star NABERSNZ Rating
with Smart Power’s expertise.
Client: First Light Capital.
Timeframe: August 2024.
With Smart Power’s expertise, First Light Capital achieved a 5 star NABERSNZ energy efficiency rating for its Westgate property, highlighting its commitment to sustainable property management and enhancing the building’s appeal to high-quality tenants and investors alike.
Service Provided.
Expert advice and practical support to obtain a coveted 5 star NABERSNZ energy efficiency rating for its prime commercial building at 22-24 Cabernet Cresent, Westgate, Auckland.
Smart Power provided critical expertise and tools to ensure the NABERSNZ rating was delivered much faster than expected, with minimal disruption to stakeholders.
Benefits Realised.
An energy-efficient building brings many benefits – and not just to tenants. They enjoy lower operating costs and a pleasant working environment, as well as happy employees, who take pride in being part of a progressive workplace.
As for the owners of the property, they can command a rent commensurate with a high-spec building. They’re more likely to attract high-quality tenants and achieve the holy grail of a property management company, which is a fully tenanted building with long-term leases locked in.
This in turn is good news for the ultimate owners – the investors behind the property. They can expect enhanced returns on their investment.
It starts with an objective rating of the building’s energy performance.
Looking to enhance the value of its Westgate property, First Light Capital opted for the NABERSNZ rating tool, run by the New Zealand Green Building Council on behalf of the New Zealand Government.
First Light Capital is an independent commercial property fund management company that concentrates on delivering solid returns to its investors. It’s not a construction company or energy management company, so it needed expert support with the NABERSNZ process.
Because the NABERSNZ process is extremely rigorous, obtaining the rating could have tied up a lot of executive time at First Light Capital. That’s where Smart Power came in.
Putting their energy into an efficient process.
The project was managed by David Annan, the Asset Manager at First Light Capital. David says that it was important to choose a partner with experience in navigating the NABERSNZ process.
“We’re experts in asset management, not experts in ESG (environmental, social and governance). We were conscious that the NABERSNZ process could be difficult to manage as relative novices in the field.”
So David and his colleagues turned to Smart Power – and especially, the services of Smart Power energy management specialist Anthony Bertrand. Anthony had previously worked on other NABERSNZ certification projects, so he knew how to steer the process.
The first thing Anthony did was send David a self-assessment tool. This enabled the business to quickly work out where the Westgate building stood in the NABERSNZ rankings, so the owners could get a bearing on the likely work involved. As David says:
“The self-assessment tool gave us an early indication of the outcome before we spent a lot of money. It meant we weren’t flying blind, and we could quickly commit to the next steps.”
Moving fast and removing obstacles.
The next stage involved a site visit by Anthony to conduct a full audit and compile all the data needed for the NABERSNZ certification.
There was an unexpected twist when the building suffered a burst water main. David was concerned that the inspection would be postponed until the problem was fixed, but Anthony allayed his fears. He kept to the original schedule, flying to Auckland on the planned date and ensuring the inspection proceeded with minimal disruption.
As an energy efficiency consultant with many audits under his belt, Anthony was able to complete the NABERSNZ report in just a few weeks. David and his colleagues were pleasantly surprised:
“We thought it would take a lot longer. Smart Power gathered all the data they needed and compiled the report required by NABERSNZ.
“Anthony gave us clarity. It was so refreshing to go through the process and know that he had everything under control.”
The result: A coveted 5 star rating.
Long-term business benefits.
David and his colleagues at First Light Capital are now implementing more NABERSNZ certifications to enhance the value of their property portfolio. In David’s words:
“A NABERSNZ rating benefits both owners and tenants. It is a systematic, proven and cost-effective tool that ensures the building meets high-performance standards. Additionally, this rating opens the door to ESG funding from New Zealand’s mainstream banks, providing extra benefits to our investors.
“A great result all around – and a real credit to Smart Power and Anthony Bertrand for making the process much more straightforward than we feared it might be.”