This is demonstrated, in part, by our success in obtaining government grants through the Green Building Fund. This fund offered grants of up to $500,000 for projects that reduced greenhouse gas emissions in commercial buildings.
Vantage undertook extensive work to improve greenhouse gas emissions for eight buildings within its portfolio and achieved a 100 per cent success rate in its eight Green Building Fund applications. Only 12 submissions were successful across Victoria during that time.
Vantage secured $3 million for capital upgrades to future proof the portfolio. The benefits included greater energy efficiencies, better workplace environments, a significant competitive advantage in attracting and retaining tenants, increased rental incomes and increased property values.
This federal government initiative was capitalised on by Vantage and demonstrates our ability to add value to our investment portfolio by taking full advantage of rare opportunities when they become available.