EG, a leading Australian real estate fund manager, is pleased to announce the acquisition of 965 Botany Rd, Rosebery for $19.25 million for ethical investment fund High Income Sustainable Office Trust (HISOT).
The acquisition provides the opportunity for EG to extend the ethical investment philosophy that underpins the HISOT, seeking to improve the energy efficiency of assets alongside commercial returns. The asset was targeted for its opportunity to reduce energy consumption and carbon emissions and improve the NABERS energy rating.
“EG is pleased to transact on this asset despite the uncertain times we face as a nation. The asset has a long lease to the Government, providing income security during this period of volatility. EG will focus on cost effective capital works and operational improvements to reduce carbon emissions” said Michael Noblet, Fund Manager, EG.
The two-level office building comprises approximately 2,888sqm NLA and has been wholly occupied by the NSW Mascot Police since January 2009 with a WALE of 5.9 years. Located within the South Sydney office market, it is well-situated between the Sydney CBD and Airport for police operations.
In April 2019, the fund welcomed a new investor, Tasplan Superannuation Fund, who will be participating in this acquisition.
Founded in 2000, EG are a real estate investment manager and developer actively investing to deliver sustainable outcomes that outperform market returns.