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Capital Expenditure in the Perth CBD

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Working green has become standard practice for many organisations, and Cloisters is no different.  We strive to create healthy environments for people to work and play in, while being energy and waste efficient.

Sustainable business is smart business.  People want to work for, work with and purchase from businesses that align with their values.  In a 2019 survey by Fast Company, it was found that 40% of millennial workers would take a pay cut to work for a company that’s environmentally responsible.  Nearly 70% also said that if a company had a strong sustainability plan, it would positively impact their decision to stay with the company in the long-term.

Beck Advisory, Asset Manager for Cloisters at 200 St Georges Terrace and 863 Hay Street, focus on the long-term benefits for their clients through the implementation of an active and ongoing capital works program to improve, revitalise and redevelop the Cloisters precinct.

The program introduced a $5 million mechanical plant upgrade, with QBE House awarded a NABERS rating of 4.5 stars as a result. The carbon footprint of the building was also reduced through the installation of a solar panel array and power correction equipment, with consequential cost savings for tenants.

This proactive approach has afforded Cloisters an occupancy rate of 88% in a struggling Perth office and retail market. With over 80% of investors considering environmental and social factors when making investment decisions, Cloisters is doing its part in contributing to the long-term sustainability of its tenants operations.

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