In another energy efficiency initiative for the $290 million Westlawn Property Trust, Clarence Property will install 100kw solar systems at three of their sites across the portfolio.
The solar solutions are being installed at shopping centres in Yamba and Brisbane and an office building on the Gold Coast, with Clarence Property recognising the benefits for the environment, tenants and the enduring value to the properties.
The decision follows major LED lighting upgrades at five properties in the Westlawn Property Trust over the past twelve months and the install of a 30kw solar system at the recently sold Easy T centre in Robina.
Rising electricity costs and improved technology prompted Clarence Property to investigate alternative sources of energy.
Clarence Property Managing Director, Peter Fahey said “Solar makes sense for environmental and business reasons”.
“Shopping centres often have large roof spaces and high energy needs. The requirements for air-conditioning and lighting generate high energy costs”.
“The power generated from the three solar system installations is equivalent to taking one hundred cars off the road and it will reduce the running costs of each property, benefiting both tenants and investors”. Mr Fahey said.
“Sustainability encompasses all aspects of what we do at Clarence Property, with particular emphasis on people, sustainable capital, environment and the community.
This is further evidenced by the recent certification of Epiq, Lennox Head residential community as a leading Enviro Development. Epiq, Lennox Head is Westlawn Property Trusts flagship development property.