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Home Cromwell’s green trifecta for 6-star NABERS Energy ratings
May 14, 2025

Cromwell’s green trifecta for 6-star NABERS Energy ratings


Cromwell is proud to announce significant achievements in sustainability with three more assets across our portfolios recently achieving a 6.0-star NABERS Energy rating: 540 Wickham Street in Fortitude Valley, 420 Flinders Street in Townsville, and 19 George Street in Dandenong.

NABERS (National Australian Built Environment Rating System) offers reliable and comparable sustainability measurements across various building sectors. In Australia, a NABERS Energy rating is mandatory for office buildings over 1,000 square metres being sold or leased, with 6.0-stars being the highest achievable rating. Achieving a high NABERS rating is not just a regulatory requirement but a mark of excellence in environmental performance. Top-rated NABERS buildings are highly sought after by blue-chip and government tenants, underscoring their value and desirability. These ratings signify a commitment to sustainability, leading to significant cost savings, enhanced marketability, and a positive environmental impact.

Our property team continually explores ways to optimise energy efficiencies and future-proof our assets to allow us to continue to deliver financial returns for investors while reducing environmental impacts. This proactive approach ensures that our buildings meet the highest standards of sustainability, as evidenced by our recent 6.0-star NABERS Energy ratings.

HQ North, 540 Wickham Street, Fortitude Valley

The team has been continuously optimising our HQ North asset through various initiatives. Following the decommissioning of the gas-fired power cogeneration facility at HQ North in FY23, the operational building’s gas usage for 2024 has dropped 98%, now limited to hot water units for the End-of-Trip facilities and bathrooms.

In November 2023, we installed a 158kW capacity solar PV system, which now meets approximately 15% of the building’s annual electricity demand. Additionally, by optimising the building management system, upgrading to LED lighting in common areas, and switching to GreenPower in January 2024, we have achieved a 66% reduction in scope 2 emissions.

These combined, continuous improvement efforts have earned HQ North a prestigious 6.0-star NABERS Energy rating. We continue to seek efficiencies for the asset with the electrification of the domestic hot water units currently under review. Timing for their replacement is dependent on budget planning and a holistic evaluation of the embodied carbon across the units’ life cycle to ensure the most sustainable long-term outcome.

19 George Street, Dandenong

Similarly, the recent investment in a 100kW capacity solar PV at 19 George Street, Dandenong, is already yielding results, accounting for 9.4% of total site energy. As the system was installed partway through the year (operational for 7 months), this figure does not yet represent its full-year performance. The solar generation has helped reduce reliance on grid electricity and supported lower operational emissions and energy costs. Together with 100% accredited GreenPower, the site achieved 55.3% renewable energy use and a 6.0-star NABERS Energy rating.

Part of the Cromwell Direct Property Fund portfolio, and tenanted by a government organisation, this achievement underscores Cromwell’s commitment to sustainability and energy efficiency across both our funds and investment portfolios.

The building’s onsite solar generation plays a key role in supporting the tenant’s net zero by 2030 target, by reducing emissions associated with its tenancy. While these are considered Scope 3 emissions for the tenant, they contribute to lowering the environmental impact of leased space, a growing focus in government sustainability strategies. Cromwell’s use of 100% accredited GreenPower complements the onsite solar, further reinforcing our commitment to providing low-carbon, future-ready assets for government tenants.

420 Flinders Street, Townsville

The final asset to achieve the upgraded 6.0-star NABERS Energy rating is another Cromwell Direct Property Fund asset, 420 Flinders Street, Townsville, with 99.3% of the building’s energy now sourced from renewables. This result was supported by a strategic investment in a 39.9kW onsite solar PV system, which contributes 6.2% of the site’s total energy.

Installed in mid-2024, the system’s current performance does not yet reflect a full 12 months of operation. Despite installation challenges due to weather and structural constraints, it has delivered strong early results. Alongside 100% accredited GreenPower, the investment has significantly reduced the building’s operational emissions.

Cromwell’s commitment to sustainable excellence

Cromwell now has six assets with 6.0-star NABERS Energy ratings and six assets with 5.5-star Energy ratings within its fund and investment portfolios demonstrating our dedication to optimising our assets pushing the boundaries of what is possible in sustainable building practices. Our lowest Energy rating is a 5.0-stars, reflecting our high standards and commitment to excellence.