Schroder REIT wants to put sustainability at the heart of its investment strategy.
The REIT has published a circular stating it wants to focus on “adapting existing buildings into those that are both modern and fit for purpose”.
The plans will be voted on at an EGM on 15 December.
SREIT chair Alastair Hughes said: “As sustainability considerations become even more important for investors and occupiers, we have a strong conviction that it will clearly help to differentiate the company and drive more sustainable, risk-adjusted returns.”
The REIT said it wants to “focus on decarbonisation strategies that improve existing buildings to achieve a green premium and capitalise on mispricing”.
The shift in direction comes as SREIT published its interim results to the end of September, which showed NAV fell marginally to £296m from £300m, with total returns of 6.7%.
Over the period, the REIT signed 56 new lettings, rent reviews and renewals across 505,782 sq ft, totalling £3.8m in annualised rental income, and 7% ahead of ERV.
To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews
