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Strategic Report
£0.2m Savings by reusing the air-conditioning equipment from Cardiff
Easter Court, Warrington
As part of the full refurbishment works at Unit 1, we removed gas heating systems from the warehouse and replaced the roof. The office area, common areas and warehouse area have all been fitted with new LED lighting. We also installed solar panels on the roof to provide on- site renewable energy and allow excess electricity to be fed back into the grid which will help to reduce the operational emissions of the unit. These refurbishments have improved the EPC rating of the building to an A rating. We subsequently leased the unit to a national car dealership at a rent of £0.1 million per annum, which was in line with ERV.
The circular economy
We have agreed to sell Longcross, Cardiff and as part of the agreement, we are permitted to strip the building of any internal finishes. We are reusing 20,000 sq ft of carpet, a modern air-conditioning system, lights and furniture which will be used in the refurbishment of two other office buildings in Colchester and Bristol. By reusing the air-conditioning unit, we estimate this will save £0.2 million with further cost savings from repurposing the fixtures and fittings.
As part of our net zero carbon pathway, we are embracing the circular economy principles to reuse, recycle and repurpose where possible.
Picton Property Income Limited / Annual Report 2024
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