Mirvac has completed the electrification of EY Centre in George Street, Sydney, replacing gas-based systems with electric heating and hot water and using natural refrigerants to reduce environmental impact.
Mirvac is one of the first asset owners to have five fully electrified office buildings in its portfolio.
Co-owned by Mirvac and M&G Real Estate, the EY Centre holds 6 Star Green Star and 5.5 star NABERS Energy ratings.
Mirvac's chief asset management officer, Victoria Tavendale, said the project was an important step in Mirvac's ambition to decarbonise by 2030.
"Projects like this are critical to how we decarbonise our portfolio over time. They allow us to reduce our reliance on offsets, respond to tenant demand and position our assets for the future,” Tavendale said:
"By removing gas from core building systems, we're reducing emissions and ensuring the asset remains competitive for tenants with net‑zero commitments."
Electrification is being driven by growing demand from corporate occupiers, with industry research by JLL showing around 85 per cent of large Sydney CBD tenants now have net‑zero targets, many with deadlines by 2030.
"We're seeing sustainability move from a differentiator to a core requirement in leasing decisions," she said.
Industry data also shows that buildings with strong sustainability credentials can support stronger leasing outcomes and long-term asset performance, reinforcing the business case for electrification.
Since 2019, Mirvac has committed to delivering all‑electric new office developments, which includes 80 Ann Street in Brisbane, alongside targeted upgrades to existing assets.
This includes:
- fully electrified buildings at fringe CBD assets, including Bay Centre, One Darling Island and 101 Miller Street in Sydney
- gas removal / roll out of electric heat pumps and system upgrades at assets including 275 Kent Street and 8 Chifley Square in Sydney and Riverside Quay in Melbourne
- procuring 100 per cent renewable electricity.
Further assets are planned to transition by 2030 as part of Mirvac's staged electrification program.