Chatswood Chase, owned by CFS Retail Property Trust Group in Sydney, is the first centre in the country to make application for a Green Star Performance rating.
This tool was launched by the Green Building Council of Australia in a bid to improve the energy, resource and water efficiency of buildings.
International research has indicated that centres with green building principles use materials that do not contain as many harmful chemicals. They have found the ventilation and natural light to increase sales. A study done during 2003 which showed that daylighting was able to boost sales by about 40%.
A study done in 2012 by the University of Notre Dame in the U.S indicated that 458 more deposit accounts were opened by green-rated branches of banks, with US$3m more in account deposit balances, compared to properties that were not certified.
The Chief Executive of GBCA, Romilly Madew, has stated that a Green Star rating means lower operating costs attracting buyers and tenants to the property. It also increases employee productivity and increases the value of the asset.
21 APRIL 2014, Australia
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