Impact Investment Group’s Kingsgate commercial office in Brisbane has received a 6 Star Green Star As Built v3 rating, with the development part of an investment strategy focused on buildings that outperform on sustainability.
IIG chief executive Chris Lock said the Kingsgate development, located in the Brisbane Showgrounds urban regeneration precinct, was a perfect example of the group’s aim to buy and manage properties that set new standards for green building.
“IIG is uncompromising in its belief that the built environment can accelerate Australia’s transition to a low carbon future,” he said.
“Kingsgate is a showpiece for this vision, and the property’s exceptional, world-leading environmental credentials were key to IIG’s decision to acquire the property in July 2015.”
The building, designed and built by Lendlease, features a 99-kilowatt solar system, a high performance double-glazed façade, a high efficiency, low-temperature variable air volume HVAC system, and rainwater capture.
Lendlease’s chief executive, property Kylie Rampa said the company was proud of its collaboration with IIG.
“Kingsgate sets new benchmarks in commercial developments, with a focus on smart design, energy, carbon and water reduction using advanced technologies and industry best-practice,” she said.
“Kingsgate is a great example of the delivery of high-performance workplaces. It makes an important contribution to the health and wellbeing of staff and is a benchmark for commercial developments within our organisation.”
Green Building Council of Australia chief executive Romilly Madew said the development was a clear example of how sustainability drives innovation.
“Lendlease achieved five separate Green Star Innovation points for a range of industry-leading initiatives, including its climate change resilience and adaptation framework, which looks to future proofing real estate asset values.”
Owned by one of IIG’s managed investment syndicates, the building is forecast to deliver a majority tax deferred, average cash yield to investors of 10 per cent a year and an internal rate of return in excess of 12 per cent at Trust end.
IIG continues to invest strongly in the green building market, with other investments including Footscray’s Dream Factory, 401 Collins Street in Melbourne, the Gold Coast Surgical Hospital, Quiksilver’s Asia Pacific Distribution Centre in Geelong, and TAC’s 60 Brougham Street development, also in Geelong.
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The group has also increased its investment in renewable energy, earlier this year announcing a $100 million Solar Income Fund to acquire solar infrastructure projects, as well as acquisition of a number of large-scale projects, including the Williamsdale Solar Farm.