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Lendlease Sub-Regional Retail Fund

Established in 2014, Lendlease Sub-Regional Retail Fund (LLSRF) is an open-ended unlisted wholesale property fund that invests in sub-regional shopping centre assets.

The Fund seeks to maximise returns to investors through the long-term ownership, development and repositioning of quality, diversified, sustainable and predominantly core sub-regional real estate assets.

The Fund currently owns five retail shopping centres in New South Wales and Western Australia. LLSRF leverages Lendlease’s integrated end-to-end business model, providing asset management, development, construction and project management expertise. 


Responsible Property Investment

LLSRF has a vision to deliver effective people focused and resource efficient sustainability solutions across the portfolio. It acknowledges the sustainability aspirations of the broader Lendlease Group and is aligned with Lendlease’s key sustainability objectives.

The Fund has had a Responsible Property Investment strategy in place since 2010.
 
  • Lendlease Sub-Regional Retail Fund (LLSRF) has participated in the GRESB assessment since 2011.

    The Fund was ranked third across 91 global retail funds and second in 15 retail specific unlisted funds in Australia in the 2019 GRESB assessment. The Fund was also ranked 10th out of all 964 global participants.
     

       2011* 2018 2019 2019 Change
    GRESB Scores        
    Overall score  29% 95%  95% No Change
    Management & Policy  64% 99%  99% No Change
    Implementation & Measurement  12% 94%  94% No Change
    GRESB Rankings        
    All GRESB participants  163 of 339 8 of 874 10 of 964 -2 places
    Global, retail  42 of 67 2 of 136 3 of 91 -1 place
    Oceania, retail 2 of 15 2 of 11 No Change
     *Participated as Lendlease Real Estate Partners 3        

     

  • Green building ratings for each asset as at 31 December 2019 are disclosed below:

     

      NABERS ENERGY NABERS WATER  waste recycling
    CENTRE CURRENT 
    RATING1
    2021 
    TARGET1
    CURRENT 
    RATING
    2021
    TARGET
     
    CURRENT
    STATUS2
    2021
    TARGET
    Southlands Boulevarde Perth, WA 2 3 3 3 26% 30%
    Menai Marketplace Sydney, NSW 3 3.5 3.5  3.5 42% 35%
    Settlement City Shopping Centre Port Macquarie, NSW 3.5 3 5  5 38% 45%
    TOTAL 2.9 3.5 3.8 4 37% 40%
       
    1 NABERS Energy performance and targets exclude GreenPower.  
    2 Waste recycling performance as at 30 September 2019.  



Contact

 
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Claire Van Schaik

Head of Capital Raising and Investor Relations, Investment Management

Other managed funds

Australian Prime Property Fund Retail
Australian Prime Property Fund Commercial
Australian Prime Property Fund Industrial
Lendlease International Towers Sydney Trust
Lendlease One International Towers Sydney Trust