CCPF's first purchase was a freehold prime office and retail building in an outstanding location overlooking the Cathedral in Birmingham's central business district. This landmark six storey property, comprising 67,000 sq ft of offices and 13,000 sq ft of retail, was acquired off market for an undisclosed sum. It is let to the UK Government while the retail occupiers include Sainsbury's, HSBC and HBOS.
Working closely with the tenants to improve the sustainability credential with matching capital expenditure, the building DEC has improved to an C (G on purchase). This has significantly reduced operating costs and produced an absolute reduction in carbon of -43% (-TE CO2pa 324) to date. This performance has been achieved by collaborative and proactive asset management between CCPF and the Government occupier (DCLG) and their advisers.