How this office building is saving money – and carbon

As the focus shifts from operational emissions to embodied carbon emissions, companies are rethinking the design of buildings.

Michael BlebyDeputy property editor

Sep 5, 2024 – 5.00am

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In March, landlord ISPT opened the doors to a new office offering in central Melbourne. The 34-level tower in the heart of the city’s legal and financial district is net zero in its operational carbon use, has no gas and is powered by renewable energy.

And it is 44 years old. The $21.5 billion fund manager opted to reuse the existing shell of the 500 Bourke Street building – fully occupied by NAB until 2021 – strip it out and refit the shell of the building, removing gas and making it fully electric.

Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne.