At First Light Capital, our investment philosophy centres on long-term value, performance, and environmental responsibility.
As part of our ongoing commitment to sustainable buildings in New Zealand, we are pleased to announce that both office assets within the First Light Property Fund have recently achieved upgraded NABERSNZ energy ratings.
These upgrades reflect not only the success of our asset management approach but also the role our properties play in driving New Zealand’s commercial sector toward a more sustainable future.
Key NABERSNZ Ratings Improvements
In early 2025, both properties held in the First Light Property Fund received significant NABERSNZ upgrades:
- 2 Harris Road, East Tamaki achieved a 5.5-star NABERSNZ rating, placing it among the top-performing energy-efficient office buildings in New Zealand.
- 233 Collingwood Street, Hamilton, which previously held a tenancy-only NABERSNZ rating, has now been elevated to a 5-star whole-building rating – a substantial step in its environmental performance.
These outcomes strengthen our reputation as a trusted manager of sustainable commercial assets and reinforce our commitment to delivering both financial returns and environmental outcomes.
Why Sustainable Buildings Matter
As investor expectations shift and sustainability regulations evolve, sustainable buildings in New Zealand are becoming central to the long-term performance and resilience of commercial property portfolios.
Our focus on sustainability is not driven by compliance alone – it is rooted in the understanding that environmentally efficient buildings:
- Reduce operating costs for both owners and tenants
- Support long-term tenant retention, especially among government and corporate occupiers
- Qualify for ESG-aligned lending and green financing opportunities
- Improve future capital value and reduce investment risk
By pursuing high NABERSNZ ratings, we ensure that the assets we manage are not only environmentally responsible but also economically advantageous.
Property Highlights
2 Harris Road – 5.5 Stars
Situated in East Tamaki, this building has recently achieved an impressive 5.5-star NABERSNZ rating, placing it among the top-performing office buildings in New Zealand for energy efficiency.
This rating reflects the building’s strong operational performance and aligns with First Light Capital’s commitment to managing sustainable, high-performing assets.
233 Collingwood Street – 5 Stars Whole-Building
Located in central Hamilton, this property has transitioned from a tenancy-only rating to a 5-star whole-building NABERSNZ rating. This upgrade highlights improvements to shared services and base building systems, ensuring that sustainability is embedded across all areas of operation – not just within tenant-controlled spaces.
This transition represents our broader strategy of transforming good assets into leading sustainable buildings in New Zealand through targeted capital improvements and active management.
A Collaborative Effort
Achieving these ratings is the result of close coordination between First Light Capital’s internal team and external partners.
We acknowledge the work of David Annan, Asset Manager at First Light Capital, whose hands-on approach ensures that performance gains are realised and sustained. We also thank SmartPower for providing the technical guidance and assessment expertise needed to achieve NABERSNZ certification, and ASB for their continued support.
Partnerships like these are critical to delivering strong results – both for our investors and for the built environment.
A Year-on-Year Priority
Our success in achieving these upgraded ratings is not an isolated outcome – it reflects a consistent, strategic priority across our entire portfolio. At First Light Capital, we pursue year-on-year improvements as part of our mission to lead in the development and management of sustainable buildings in New Zealand.
Each rating represents a tangible milestone in our ESG journey, and a clear demonstration of the value we place on environmental performance, asset efficiency, and long-term investor outcomes.
Looking Ahead
The upgraded NABERSNZ ratings for 2 Harris Road and 233 Collingwood Street mark another successful year in First Light Capital’s ongoing commitment to delivering sustainable, high-performing commercial properties. These results are part of a broader program to embed sustainability across all eligible assets in our portfolio – setting clear performance benchmarks, prioritising upgrades with measurable outcomes, providing transparent ESG metrics to investors, and ensuring our properties remain competitive in an increasingly sustainability-driven market.
To our investors, these achievements demonstrate the consistent stewardship, discipline, and forward-thinking approach that underpins our investment strategy. For those considering commercial property exposure, they offer clear evidence of our ability to manage assets with both environmental integrity and financial rigour.
First Light Capital remains focused on managing buildings that perform – financially, operationally, and environmentally – year after year. In doing so, we proudly contribute to the future of sustainable buildings in New Zealand.
For more updates on our sustainability initiatives and asset management approach, sign up to our NZ Property Market Update.
