Summary:
Viewing climate change as a ‘material’ risk to business, QIC Global Real Estate (QICGRE) sought a solution to help it more intelligently manage its multi-billion dollar retail property portfolio, reduce the carbon footprint of its assets and build future resilience.
To deliver the best possible outcomes for investors, tenants and the wider community, QICGRE implemented CIM’s building analytics platform PEAK across 23 prime retail assets. PEAK's data-driven insights helps QICGRE operate these assets at peak performance to reduce carbon emissions, future proof the portfolio and improve the customer experience.
Challenge:
In response to rising energy costs and efforts to cut carbon emissions, QICGRE decided to implement operational best practices across its portfolio to optimise the efficiency of plant and equipment and eliminate waste.
Achieving this goal initially proved difficult as onsite teams found contractor management challenging, they lacked access to the data to understand and track progress, and the building management systems (BMS) were operated inconsistently.
“Our teams were often frustrated by how time consuming and difficult it was to operate their buildings,” explained QICGRE portfolio facilities manager, Damien Stacy. “Many were reliant on contractor expertise and found it difficult to accurately verify contractor performance and outcomes," he said.
“We saw the potential of applying building analytics to the assets we own and operate to gain visibility into the building performance issues and opportunities, facilitate better workflows and drive consistent and transparent practices across the portfolio" - Damien Stacy, QICGRE Portfolio Facilities Manager
Solution:
Following a comprehensive investigation and tender process, QICGRE chose CIM’s PEAK platform as its building analytics solution.
Compelling results from a successful trial at QICGRE’s Robina Town Centre in Queensland prompted QICGRE to roll out PEAK across 23 of its major retail sites. Every 15 minutes, PEAK reads more than 40,000 points across these 23 sites, including component data such as valve positions as well as fan and pump speeds. It combines this with other relevant data, such as inside and outside temperatures, electricity, gas and renewable consumption and people traffic.
On some sites PEAK also captures indoor environmental conditions such as CO2 and humidity levels.
The building data from these points is captured and rapidly analysed using 1,100 unique rules-based algorithms developed by CIM’s engineering and data science teams. The analysis of the operational effectiveness of the plant and equipment is delivered to the QICGRE teams fast and accurate insights, giving them significantly more visibility and control of asset performance.
Results:
- Faster fault detection, diagnosis and resolution with 2,800previously unidentified faults flagged and quickly resolved
- Smarter capital and operational expenditure
- Proactive and predictive maintenance to prevent equipment failure and extend lifespan
- Transparent and accountable contractor management
- Greater team collaboration with increase in ticket closure rate by 200%
- Higher thermal comfort scores and less complaints, resulting in a better customer experience
- 30-40% reduction in car park ventilation energy cost without compromising air quality standards
- Increased environmental performance and NABERS ratings across the portfolio
- Lower energy consumption and costs with >4,500 MWh of energy savings in 12 months
- Smaller carbon footprint after cutting 5,000 tonnes ofCO2e within 12 months.