The property’s automation system will be updated, ventilation fittings will be modernised, heat exchangers will be renovated, and the building will be linked to an energy control centre.
The energy efficiency project targets net savings of 350 000 euros in the shopping mall’s heating and electricity use throughout the life-cycle of the realised measures. The whole scheme is being financed through a funding model devised by LeaseGreen, which means that clients do not need to contribute their own capital. Investments made by LeaseGreen are repaid by clients through monthly fees for the duration of the project – in this case six years.
Fees are set at a level lower than the savings, which the project starts to create immediately.
“Better energy efficiency will reduce the mall’s operating costs, increase the property’s value and reduce emissions,” says LeaseGreen CEO Tomi Mäkipelto.
“We can reliably forecast a profitable return on these investments.”
Koivula shopping mall is mainly owned by the Finnish property investment fund Trevian Retail I, which is run by Trevian Asset Management. Built in 1989, the mall has a total floor area of 3 738 square metres, and houses retail outlets including a major supermarket, a pharmacy and several restaurants.
“Investments like these, amounting to hundreds of thousands of euros, are so significant that it’s all too easy to keep putting them off year after year,” says Trevian partner Veli-Matti Kotipelto, who also chairs the board of the company that runs the shopping mall.
“LeaseGreen’s funding model clearly lowers the threshold for such actions. Our building services will now be modernised, conditions inside the mall will be enhanced, the owners will save money, and pressure to increase rents will be reduced. I really appreciate the way that LeaseGreen is taking responsibility for the whole project and making sure everything works as it should. I’ve been impressed by their expertise.”
LeaseGreen is a specialist energy efficiency service provider, whose experts have a wealth of experience that they have accumulated through more than 500 energy efficiency projects around Finland. The company has offices in Helsinki, Tampere, Jyväskylä and Lappeenranta.
Chairman Veli-Matti Kotipelto
Trevian Asset Management
+358 50 435 5539
CEO Tomi Mäkipelto
+358 50 370 4092