Property Fund Awarded 6-Star Green Star Rating

A property fund managed by Lendlease has become the first fund in Australia to be awarded a 6-Star Green Star performance rating across its portfolio of assets.

The Lendlease-managed Australian Prime Property Fund Commercial has welcomed the award from the Green Building Council of Australia.

The rating recognises the quality of the office buildings and precincts within APPF Commercial as well as the company’s commitment to sustainability and innovation.

This follows the fund ranking as number one internationally out of 850 funds in the 2017 Global Real Estate Sustainability Benchmark.

[Related reading: Lendlease Selected to Transform Italian Expo Site into 100-Hectare ‘Future Park’]

“Becoming the first Australian 6 Star Green Star portfolio is testament to APPF Commercial’s continued leadership in owning and operating high performance green buildings,” Lendlease Investment Management managing director Josh McHutchison said.

“We’ve long held the belief that driving improvements across environment, social and governance aspects across the portfolio delivers buildings and precincts that are attractive to tenants, who are increasingly seeking high performance green buildings and the benefits they bring to thousands of employees and the broader community.

“Ultimately, these strong sustainability practices lead to increased returns to investors through improved operational efficiencies, as well as being the right thing to do.”

[Related reading: Green Building Council Australia Chief Executive Wins Global Prize for Sustainable Building]

“Since Green Star was launched in 2002, Lendlease has demonstrated an industry-leading approach to sustainability in the built environment in Australia and around the globe,” GBCA chief executive Romilly Madew said.

“Achieving a 6 Star Green Star – Performance rating for an entire portfolio of assets elevates Lendlease’s commitment to sustainability. Lendlease now has positive proof that its portfolio of assets meets world leadership benchmarks for sustainable operations.”