The fund will invest in energy efficient buildings with a minimum 5 Star Green Star rating, as well as medical and allied health facilities and social infrastructure.
The Australian Ethical Property Trust has only been available for retail investment since 1 October 2009. It was officially launched on Thursday 8 October 2009 by Greens MLA Caroline Le Couteur.
The 64 Allara Street building is a 5 Star Green Star building and is the first asset of the new fund. A 5 Star Green Star rating from the Green Building Council of Australia (GBCA) signifies Australian Excellence.
The fund aims to provide long-term capital growth and moderate income. It will aim to deliver returns at 3% above the annual CPI over five-year time horizons with low volatility against the return benchmark.
CEO of Australian Ethical Anne O’Donnell said “ Australian Ethical is very excited about the launch of the Australian Ethical Property Trust. Investing in green buildings is not only good for the environment, but it is a smart business decision as well.”
CEO of the GBCA, Romilly Madew, said “We congratulate Australian Ethical‘s strong leadership, which will support green buildings that are both environmentally and economically sound investments.
“A range of independent studies has confirmed that green building practices improve an asset’s value by securing tenants more quickly, commanding higher rents or prices, enjoying lower tenant turnover, costing less to operate and maintain, attracting grants, subsidies and other inducements, and improving business productivity for occupants, which affects churn, renewals, inducements and fitting out costs. Clearly, investors wanting to do the right thing by the environment will also do the right thing financially.”
For further information or comment please contact:
Portfolio Manager, Property Trust
Phone 02 6201 1910