The High Income Sustainable Office Trust (HISOT) aims to improve the energy performance of existing commercial office buildings in major metropolitan markets on the eastern seaboard.
It now has three assets in its portfolio – one in Brisbane’s CBD and two in Canberra.
Leading real estate fund manager EG Funds Management is developing the HISOT portfolio. HISOT is open to institutional investors, including superannuation funds, which have shown increasing interest in low emissions and sustainable investment opportunities in the mid-sized investment market.
HISOT aims to buy and refurbish up to 12 city office buildings in decentralised locations, increasing their energy efficiency, reducing operating costs, and cutting carbon emissions.
Efficiency improvements can include the installation of integrated building and heating, ventilation and air conditioning management systems, including real-time energy monitoring technologies.
The CEFC is a cornerstone investor in HISOT, committing up to $50 million in equity as part of its broader focus on helping the Australian property sector move towards zero carbon emissions. United Financial Services (UFS) and Tasplan Superannuation Fund are also HISOT investors.