Manchester Office Space Final Addition to Green Property Fund
Climate Change Capital (CCC), the environmental investment manager and advisory group, have confirmed that the purchase of an office building in Manchester this week will be the final addition to its property fund – having now fully invested the fund.
Launched in August 2008 the property fund from CCC will close with a gross asset value of nearly ┬ú150m in commercial property, having followed its directive of investing in mainstream commercial property and making those building more attractive to occupiers through ΓÇ£absolute carbon reductionΓÇ¥.
On the future of sustainable buildings CCC states on its website that its anticipates a two-tier market, on which it bases its investment strategy, where future-proofed energy efficient buildings are likely to outperform non-compliant buildings.
In a press release posted on the CCC website Tim Mockett, joint Founder Partner of the fund said: “We’re very pleased we have been able to commit this capital so efficiently. This validates our investment thesis and demonstrates the potential for growth of this burgeoning market. We look forward to driving sustainable asset management wins across our portfolio.”
Esme Lowe, joint Founder Partner of the fund also added that: “Property owners and tenants are coming under increased government pressure to reduce energy consumption. This will create more opportunities for investors and we are reviewing our strategic options to capitalise on this for investors”