Mar 26, 2012 Written by Magnetite NZ
Magnetite’s Melbourne franchise recently completed an installation at the iconic Citiclub building, the former headquarters of the RACV Club in Melbourne CBD. The installation was partly funded through a new scheme set up for commercial buildings called the Australian environmental upgrade fund. Double glazing was chosen to help improve the insulation of the building’s facade. Magnetite’s retrofit double glazing was applied to the hotel section of the building.
“Magnetite’s retrofit system is designed to improve the glazing’s energy performance which in turn improves the NABERS rating. This will make glazing performance an essential element to consider when assessing the value of Melbourne’s existing commercial building stock” said Robert Campbell of Magnetite Melbourne.
The Citiclub upgrade is estimated to improve the energy saving of the building by 27 precent, increasing the NABERS rating from 2 ½ stars to 4 - 4 ½ stars. The financial savings is estimated to be $180,000 per annum giving a return of 17% a year.
Retrofitting Magnetite offers an excellent solution towards a low carbon future. With affordable pricing, this is a perfect fit to the new scheme by the federal government to provide cheaper loans to fund the environmental upgrade of commercial buildings. Dr Chua, the owner of Citiclub, is confident about the payback of his green retrofit.
This green retrofit of the Citiclub is just one of the growing numbers of commercial building green projects that Magnetite is taking part in. Magnetite proudly supports a low carbon Australia
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