Helping to create tomorrow's world: Manchester Fort Shopping Park
Richard Hamilton-Grey expands on the waste management initiatives in place at Manchester Fort Shopping Park, highlighting our dedication to Tomorrow's World.
We believe it is our duty to create outstanding places for people in the communities of tomorrow, where community-wide prosperity is unlocked and environmental systems are restored.
At Manchester Fort Shopping Park, a 325,000 sq ft (30,000 sq m) site, we have engaged with retailers on waste management initiatives to increase recycling and improve the collection procedure. The new programme allows for bespoke collections to be implemented for individual tenants, resulting in better cost analysis of the waste management services provided.
New colour-coded Rear End Loader containers were introduced to separate waste streams, including general waste, food waste, paper and cardboard. These were strategically placed in key locations throughout the Fort’s service area. A pallet-weighing system has been introduced in the waste compound and all bins are tagged with a Radio Frequency ID system. This allows each tenant to be monitored for their waste from the data which is fed back to Manchester Fort Shopping Park’s management team from weighing each individual bin.
To further reduce time spent by operatives moving waste from the front of the premises to the rear waste compound, B&M introduced their latest innovation 'Ethel' which is an electric truck. This plug-in vehicle emits zero emissions into the environment and decreases the amount of time moving the bins around the site, therefore, increasing cost efficiencies. By replacing large quantities of wheelie bins with a compactor, B&M has been able to dramatically reduce the collection frequency from three times per week to just once a week. This has reduced the scheme’s overall carbon footprint.
More than 79,000kg of waste is collected in a year, of which Manchester Fort Shopping Park currently diverts 100% from landfill, as a result of B&M’s dedicated RDF facility. The asset’s carbon footprint has been minimised by reducing the number of waste collections at the site, something that has had the added benefit of decreasing the service charge costs to retailers. The significant cost savings has allowed the centre to employ an additional employee dedicated to ensuring the success of the new waste strategy.
We continue to look for innovations going forward, such as a rainwater harvesting system, which will further move the asset up the Waste Hierarchy.
Please find above an example of how Nuveen Real Estate evaluates properties. All information shown is historical and represents the views of Nuveen Real Estate. It is provided for informational purposes only and should not be deemed as a recommendation to buy or sell any property or asset. This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Financial professionals should independently evaluate the risks associated with products or services and exercise independent judgment with respect to their clients. Real estate investments are subject to various risks, including fluctuations in property values, higher expenses or lower income than expected, currency movement risks and potential environmental problems and liability. Issued by Nuveen Real Estate Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. Nuveen Real Estate is a name under which Nuveen Real Estate Management Limited provides investment products and services. Nuveen Real Estate is a real estate investment management holding company owned by Teachers Insurance and Annuity Association of America (TIAA). Nuveen Real Estate securities products distributed in North America are advised by UK regulated subsidiaries or Nuveen Alternatives Advisors LLC a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Nuveen Securities, LLC, member FINRA.