Green Building to help Revitalise and Rejuvenate Double Bay

Fivex Commercial Property

PRESS RELEASE – November 2005

“Double Bay is experiencing a period of self-reinvention and we believe our sustainable development on the former Westpac Bank site on Double Bay’s most prominent corner will be a catalyst to help reinvigorate the Double Bay Centre” said Joshua Berger (of retail and property fame) Managing Director of Fivex Commercial Property.

On Monday 14 November 2005, Woollahra Council at a Full Council meeting approved the development of 376-382 New South Head Road, Double Bay on the corner of New South Head Road and Knox Street. The development promises to be the first 5 star rated GreenStar development in Woollahra.

“We hope that our project will act as a precedent for future sustainable developments in Woollahra and Australia wide” Mr Berger said

“Our project philosophy is simple: build a beautiful and prominent building in the heart of Double Bay’s shopping centre in an environmentally responsible way.” Mr Berger said.

“We plan to activate all three corners of our retail frontage especially focusing on the important Knox Street frontage as well as activating Goldman Lane which we believe has the potential to become a boutique laneway not dissimilar to the beautiful laneways that pepper Melbourne’s CBD.” Mr Berger said.

“Double Bay is evolving into the fashion centre of Sydney and with the approval of our development there is the potential to attract world class retailers into the heart of the Double Bay shopping village” Mr Berger said.

“We are disappointed that Woollahra Council rejected our trial car sharing proposal for the Cross Street car park, which promised to reduce Double Bay’s reliance on car ownership and further reduce greenhouse gas emissions. The prospect of Woollahra Council forgoing significant revenue from our development was too difficult a hurdle for Council to overcome.” Mr Berger said.

BACKGROUND NOTES

Prepared by Michael Mobbs of Sustainable Projects Pty Ltd.

In summary the Project will be:

1.    The first multi-tenanted sustainable office building in Australia.  Other projects which have achieved similar Green Star ratings offices have been predominantly corporate headquarters for a large single office space user.

2.    Designed to achieve or better best practice energy and water use and as a result operating costs are expected to be up to 50% lower than comparable offices

3.    Designed to achieve higher productivity due to a healthy indoor office environment that will increase worker productivity

4.    Designed so that all water from rainwater will be harvested and stored on site and waste water will be treated and reused to flush toilets. The building uses a productive roof garden with sensitive architectural screening for rainwater and recycling tanks.

5.    Designed to maximize natural ventilation and natural light.

The project is expected to achieve the following environmental savings:

a.    Over 400,000 litres of stormwater polluting Double Bay and Sydney Harnbour each year will be prevented;

b.    Over 400,000 litres will be left in Warragamba dam each year;

c.    Over 700,000 litres of sewage will no longer be discharged into the Pacific Ocean each year; and

d.    Sewer surcharges into Sydney Harbour will be reduced during heavy rainfall.

If Council had approved the car sharing scheme then over 150 tonnes of Greenhouse gases would have been saved in avoided car trips.