Building upgrade finance

Building upgrade finance allows commercial building owners to fund environmental improvement works, which are then repaid quarterly through your Council rates.

The long-term fixed interest finance can be used for projects that improve energy, water and waste performance in existing buildings.

Under a building upgrade agreement, a lender provides finance to a building owner and the local council collects repayments through the rates system. The council then passes the property charge onto the lender.

Building upgrade finance is a proven way to fund environmental building upgrades and can improve your working environment, create a more valuable asset, reduce your building’s carbon footprint, lower operating costs and retain tenants.

Existing commercial buildings can be funded through building upgrade finance such as:

  • offices
  • industrial buildings
  • retail buildings
  • hospitals
  • hotels

What kind of projects can I use building upgrade finance for?

Building upgrades

  • Building fabric insulation upgrade
  • Cool roof coating
  • External solar shading
  • Green roof installation
  • High performance windows
  • Reduce building infiltration/exfiltration

Energy sources

  • Domestic hot water sustainability via technology upgrade
  • Recued carbon on-site energy source
  • Grid-connected renewable energy, with or without battery storage
  • Solar thermal hot water
  • Power factor correction

Lighting

  • Lighting control upgrades
  • Lighting technology upgrade

Plant upgrades

  • Drive and fan efficiency upgrades
  • Duct testing and sealing
  • Ducting and piping insulation
  • HVAC efficiency via control upgrade
  • HVAC technology upgrade
  • Permanent high efficiency commercial appliances
  • Permanent refrigeration upgrades
  • Pool efficiency upgrades

Water

  • Blackwater system
  • Greywater system
  • Rainwater system
  • Water efficiency measures

What are the benefits of building upgrade finance?

  • Increase your building’s capital
  • Get upfront finance
  • Attract and retain tenants
  • Combat rising energy costs and reduce your utility bills

How does building upgrade finance work?

Under a building upgrade agreement, a lender provides finance to a building owner and the local council collects repayments through the rates system. The council then passes the property charge onto the lender.

Use of the council rates system means that a building upgrade finance loan is prioritised over other debts attached to the land, if there is a loan default. This gives lenders more security, allowing them to offer long-term loans at competitive interest rates.

No upfront capital is required.

How do I apply?

Contact better building finance who are administering the program for us on 9658 8740 or email info@betterbuildingfinance.com.au.

Last updated: Wednesday, 21 November 2018, 12:34 AM