JLL is marketing a portfolio of six carbon-neutral central London offices for £131m, on behalf of Columbia Threadneedle.
The Capital Portfolio, which is part of the asset manager’s Carbon Neutral Real Estate Fund, comprises assets in the City, Shoreditch, Twickenham, Hammersmith, Richmond and Wimbledon totalling 224,000 sq ft.
The sticker price reflects a net initial yield of 6.5% and a low capital value of £586 per sq ft.
Columbia Threadneedle launched its Carbon Neutral Real Estate Fund with developer Stanhope and sustainability experts Carbon Trust in 2010. The fund, which comprises low-carbon-compliant real estate assets, has historically focused primarily on the UK office sector.
A spokesperson for Columbia Threadneedle said: “Having launched the Carbon Neutral Real Estate Fund over a decade ago, all assets have now been full refurbished, delivering high-specification, carbon-neutral workplaces. With high demand for sustainable building at present and having consulted with clients, we believe now is the right time to begin the next phase of evolution for our carbon-neutral real estate offering.”
Simon Verrall, head of national office investment at JLL, said: “Given much of the focus on office investment activity is on ESG and sustainability, JLL is excited to be out of the blocks early on the launch of the sale of the Capital Portfolio.”
Recent research from JLL stated that sustainable offices commanded a 20.6% premium over the past five years.
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