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One of Investa's biggest lease deals during the period was the renewal of 25,382m2 for 13 years with the Queensland State Government for the building known as "State Law" at 50 Ann St, Brisbane. Investa's sustainability platform and willingness to commit to a series of base building environmental efficiency initiatives were both major factors in the government's decision to negotiate exclusively with Investa and directly contributed to a $2 million valuation uplift. A particularly appealing feature of the deal for State Law was the offer of Investa's Greenhouse Guarantee which will take the tenancy ABGR from an unofficial rating of 2.5-stars to 4.0-stars, or perhaps even 4.5 depending on the participation of staff. In doing so, the Government will save more than $150,000pa in energy costs, principally through the upgrading of light fittings and installation of an ECS managed lighting control system. The lighting upgrade project will soon be underway and it is being complemented by various energy and water saving initiatives that in the first two months of the 2007 reporting year had delivered a year-on-year emission reduction of 16.2 percent and water saving of 11.7 percent. |
