New-build residential
Making a new build highly efficient
Although Telegrafen was a newly built residential asset with strong energy performance, due diligence identified commercially attractive opportunities to further reduce operating costs and improve the building's energy class.
Intervention
A detailed energy analysis was carried out during due diligence to identify the most commercially attractive improvements. The energy improvement programme was incorporated into the investment case before acquisition and included:
Exhaust air heat pump system, recovering heat from the building's ventilation system for hot water and space heating.
Rooftop solar providing on-site renewable electricity, complemented by energy storage in hot water tanks.
Advanced building automation and sub-metering to enable tenant debiting and improve cost allocation.
The completed programme improved the building's energy class from C to B. As is typical for residential assets, Slättö bears the heating costs. Therefore, energy savings translate into higher NOI.
Impact
New-build residential: Telegrafen asset
| Key results | |
| Energy capex, EUR | 440 k |
| Net Operating Income, EUR | +65 k |
| Energy cost | -71% |
| Yield on Cost | 15% |
| CO2 | -90% |
| EPC improvement | From C to B |
| Asset overview | |
| Location | Stockholm |
| Asset type | Residential |
| Number of apartments | 23 |
| Construction year | 2023 |
| Heating system before intervention | District heating |
Energy cost before and after, EUR k yearly:
This chart shows how the measures implemented reduce the building's annual energy cost by 71%.
The largest single contribution comes from the exhaust air heat pump.
This is followed by an advanced control system, heat balancing with solar panels with energy storage.
As a result, the energy use is 55% lower than the regulated new-build standard.
Takeaway
Value-accretive energy improvements are not limited to older assets. Even newly built buildings can often be improved further.