The Greatest Failure
Climate change represents the greatest and widest-ranging market failure ever seen. – Sir Nicholas Stern, ‘The Stern Review,’ October 2006.
Sustainable Development in NSW
Palladium Property is a keen proponent of environmentally sustainable development. We sustainably manage the use of energy, water and materials in the company’s operations. We take our responsibility seriously and consider our role in developing greenfield sites and re-development projects as an opportunity to reduce the effects of climate change.
This simultaneously enhances the intrinsic value of our client’s projects by increasing the net rental income and firming the capitalisation rate.
Through evaluating the key Green Star categories of building design (Management, Indoor Environment Quality, Energy, Transport, Water, Materials, Land Use and Ecology, Emissions and Innovation), projects can potentially maximise long term returns through:
- Tenant Retention: higher rates of renewals and reduced vacancy levels
- Improved Efficiency: Increased employee satisfaction and output, decreased absenteeism due to the increased quality of the working environment
- Reduced Operating Costs: use of new energy and water-efficient technologies and Building Management Systems
- Reduced Construction Costs: smart reuse or use less material to achieve a similar solution
- Increased Net Income: resulting from reduced operating expenses
- Increased Asset Values: resulting from increased net income, higher tenant retention rates and firmer capitalisation yields reflecting property designed to meet future requirements, lower operating expenses and lower vacancy risk