Building Upgrade Finance in NSW

Building Upgrade Finance legislation is largely the same in New South Wales, Victoria and South Australia. There are, however, some key differences. Information provided here relates to NSW.

Building Upgrade Finance is the type of finance, and an Environmental Upgrade Agreement (EUA) is the contract that facilitates the repayment of the finance through the local council. A template EUA contract has been prepared for transactions in NSW.

Location

Building Upgrade Finance is available for all local NSW councils to offer to building owners and businesses in their local government area. To participate, a council has to pass a formal resolution of Council, delegating authority to the Chief Executive Officer to enter into EUAs.

The following council’s offer Building Upgrade Finance in NSW:

  • Blacktown City Council
  • Lake Macquarie City Council
  • Newcastle City Council
  • North Sydney Council
  • City of Parramatta Council
  • City of Sydney Council

Is your building located in a council area not listed above? Please contact us and we will help you to engage with the local council OR if you are a council wanting to participate in Building Upgrade Finance.

Tenant contributions

Tenant contributions can be recovered through:

  • existing lease provisions without tenant consent; where the tenant already contributes to outgoings as a part of their lease, or
  • a specific agreement; where the building owner and tenants negotiate and agree to contributions to be made.

Eligibility

Eligible works are those that improve the energy, water or environmental efficiency or sustainability of a building. Some upgrades to heritage buildings may be eligible, such as façade or lighting upgrades, that result in an environmental benefit. Building Upgrade Finance has been used to finance environmental upgrades to heritage buildings in NSW.

Strata buildings

Building Upgrade Finance is available for strata (>20 lots) building upgrades under the legislation in NSW. The current template EUA contract is for single title/ownership property EUAs, and is not designed to facilitate strata EUAs. A contract for strata EUAs would need to be developed to facilitate a strata transactions in NSW through Building Upgrade Finance.

Crown land and leasehold properties

Crown land is land owned by a level of government. Contact us if you want to discuss Building Upgrade Finance.

For further information, including the template EUA contract and technical guidance, click the button below:

The most impressive template youll find.

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