Lendlease fund Australia’s most sustainable in retail

by FM Media
0 comment
Macarthur Square

Lendlease’s Australian Prime Property Fund Retail (APPF Retail) has been ranked Australia’s most sustainable unlisted retail fund in the 2023 GRESB Real Estate Assessment as well as Global Sector Leader in Retail.

It’s the fifth time in the last six years that APPF Retail has ranked first in its peer group and first in Oceania Retail.

Collaboration, operational efficiencies and CapEx upgrades

According to Lendlease, the Fund’s achievement is owed to increased collaboration with tenants alongside a reduction in energy and greenhouse gas emissions through operational efficiencies and CapEx upgrades.  

Macarthur Square in Sydney, for example, improved the total waste being diverted from landfill by 10 percent in 2022 as a result of the management team’s close engagement with tenants on food organics distribution.  

In addition, Queensland’s Sunshine Plaza reduced its electricity consumption by seven percent in 2022 over the prior year. It did this through active operational engagement, including the upgrade of HVAC Plant and by undertaking asset performance tuning to improve energy efficiency.

5 Star GRESB ranking

APPF Retail also maintained its 5 Star GRESB ranking, which represents the top 20 percent of all participants in the GRESB assessment.

GRESB is an independent organisation providing validated environmental, social and corporate governance (ESG) performance data and peer benchmarks for investors and managers to improve business intelligence, industry engagement and decision-making.

“Every year we continuously strive to improve sustainability outcomes across the APPF Retail portfolio, and investors are also increasingly aligning their own investments with sustainable outcomes,” APPF Retail fund manager Anne MacSporran.

“Buildings that integrate the physical risks of climate change will increasingly contribute to investment performance and provide a competitive advantage. Over the coming year we’ll be looking to rollout solar across the rooftops of many of our assets to help meet the Fund’s net zero targets by 2025.”

Schools and retail will soon count NABERS stars.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More