The Green Building Council of Australia (GBCA) has awarded the Australian Prime Property Fund (APPF Commercial), which is owned and managed by Lendlease Investment Management, a 6-Star Green Star – Performance, making it the first commerical property fund in Australia to receive the award.
Established in 1994, APPF Commercial comprises a portfolio of 19 real estate assets, covering a total of 701,300 square metres of net lettable area (NLA) that include Sydney’s Darling Square and Towers One, Two and Three at Barangaroo.
For its part, the GBCA rating recognises the quality of the office buildings and the commitment to sustainability and innovation.
Lendlease says it has long had a vision to become a world leader in the delivery of environmentally sustainable outcomes in the Australian property sector, one reason, it notes, why APPF Commercial has had a Responsible Property Investment strategy in place since 2009.
The APPF Commercial portfolio’s performance can be attributed to pursuing additional recognition for the activities being undertaken in the management, materials, indoor environment, ecology, transport, emissions and innovation categories, the company says.
“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,” says Josh McHutchison, managing director of Lendlease’s Australian Investment Management business.
“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,” he says.
According to GBCA CEO Romilly Madew, achieving a 6-Star Green Star rating for an entire portfolio of assets is a sign of a commitment to sustainability.
“Australia continues to be recognised globally for its high level of transparency, collaboration and knowledge-sharing, as well as its accountability for sustainability at the highest levels, which is why the Australian real estate market was named the world’s greenest by GRESB for the seventh year in a row this year,” she says.