Background

The company acquired the asset in June 2018 and identified that the tenant had a requirement to reduce their operational energy costs as a high energy user.

Aim/specification

As part of a lease regear, the Company agreed to extend the tenant’s (Total Fitness) lease by five years.  In return, the tenant has invested £750k in roof repairs and upgrades, enabling the Company to install PV on the roof of the 64k sq ft building. The installation, consisting of 697 panels, is expected to generate approximately 253k kWh of electricity annually.

Expected outcome

Given the tenant’s significant energy consumption as an air conditioned leisure facility with a swimming pool, this investment presented a valuable opportunity to collaborate with the tenant in reducing the building’s carbon footprint and reducing energy costs.

Total cost of works

£0.2m

Impact on EPC

‘D’ to ‘B’

Before:

After: