CBRE Investment Management Completes Zero Emissions Logistics Building in UK

CBRE Investment Management (“CBRE IM”) has completed the transformation of Solar120, Europa Boulevard, Warrington. The refurbishment included the incorporation of several initiatives that focused on renewable energy and zero emissions in both build and future operations in addition to wellness features.

The building was officially opened by the Mayor of Warrington and Robert Swan OBE, the first person to walk to both the north and the south poles, and whom CBRE IM proudly sponsored on his most recent sustainable expedition to the Antarctic, gave an inspiring talk to an audience of over 120 people. This included children from a local primary school who were invited to learn about the Antarctic and hear from Robert, a champion of sustainability, about what needs to be done to preserve the Antarctic and our planet.

The 120,511 sq ft (11,196 sq m) warehouse/production facility, with c. 9,000 sq ft of office accommodation, has a BREEAM rating of Excellent, one of the first BREEAM Excellent refurbished industrial buildings.

The refurbishment has incorporated several initiatives that have focused on all three categories within E, S, and G including onsite renewable energy, wellness initiatives, and certification. Throughout the refurbishment, the aim was to retain and reuse as much of the existing property to minimise the embodied carbon within the existing facility and the works required.

At acquisition, the building was emitting 435,342 kg of carbon dioxide per annum, but post refurbishment and in operation, the building is projected¹ to emit zero kg of carbon dioxide per annum. This reduction in carbon emissions has been achieved by retrofitting the building with heat pumps, LED lighting, the removal of gas supplies, and through a large amount of on-site, sustainable energy generation.

The building’s name stems from the 85% photovoltaics (PV) coverage that has been installed on the building’s roof. This solar array installation will supply up to 670K KWH of renewable and sustainable energy to any incoming tenant, and the energy supplied generates a carbon saving of 130 tonnes per annum over the grid and 3,250 tonnes of CO2 over the 25-year design life.

Wellness has also been considered throughout the refurbishment, with a multi-use games area, petanque, and an amenity block with showers and changing rooms now installed. The landscaping incorporates new fruit trees, garden seating, walking areas, and wildflowers to support the local ecosystem.

Rob Trevor, Head of Asset Management Logistics UK commented: “We are very proud of the refurbishment of this logistics warehouse. The standards set were very high to ensure we delivered a high-performing, sustainable building that had a positive environmental and social impact. I am delighted that this has been achieved at Solar120. We have created a building fit for the future and that meets the requirements of the modern-day occupier.”

The facility has 10 dock loading doors, two level access loading doors, 18 HGV parking spaces, and 88 car parking spaces. It is located between junctions 8 and 9 of the M62, within one of the North’s most established business parks, and is well served by road, rail, and air.

¹ Future projections/estimates cannot be guaranteed

About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $148.9 billion in assets under management* as of March 31, 2023, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2022 revenue). CBRE has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.