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.
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.
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.
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Global Real Estate Sustainability Benchmark (GRESB)
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 Certification
Green building ratings for each asset as at 31 December 2019 are disclosed below:
NABERS ENERGY NABERS WATER waste recycling CENTRE CURRENT
RATING12021
TARGET1CURRENT
RATING2021
TARGETCURRENT
STATUS22021
TARGETSouthlands 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.
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