Green Building Attracts Ethical Buyer

Australian Capital Territory (ACT), Australia, July 06, 2009 --(PR.com)-- Canberra based company Australian Ethical Investment purchased 64 Allara Street, Canberra City for $18.5 million. The purchase was executed on behalf of a new wholesale property vehicle, the Australian Ethical Property Trust (AEPT).

Sales Agent Jim Shonk of Colliers International said the property is an ideal investment with long term blue chip tenants and indicates a strong vote of confidence in the Canberra market. The sale represents a yield just under 8%.

64 Allara Street, Canberra City is a new 5 Green Star rated building offering 3,412 square metres of premium grade office space on four levels with ground floor retail and professional offices, and two basement levels accommodating 98 vehicles.

64 Allara Street was completed in November 2008 and has since been tenanted by Canberra Investment Corporation (CIC) and the newly established Carbon Capture and Storage Institute which is funded by the Australian Government and private enterprise.

AEPT’s purchase of 64 Allara Street was in line with their intention of only investing in environmental and socially responsible properties.

AEPT was established to invest in direct, unlisted and listed property concentrating on energy efficient buildings with a minimum of 5 Star Green Star rating, purpose built medical and allied health facilities, social infrastructure, direct property with the intention to retrofit and refurbish to a minimum 5 Star Green rating status and other property that meets the terms of the Australian Ethical Charter.

The Charter was established in mid 1980’s and sets out a framework for investment in assets which have sustainable features and avoid investment in enterprises which are harmful to the physical or human environment.

Australian Ethical Investment has gained considerable experience in the management of sustainable buildings, having retrofitted their headquarters in Bruce in 2007 to world leading 6 Green Star status, the first in Canberra and at the time only the third in the Country.

Robert Sharf of Australian Ethical Investments Ltd said “We believe that sustainable buildings promote a better quality of work environment lowering staff turnover and increasing productivity. Sustainable buildings have a smaller environmental footprint and are cheaper to run.”

Australian Ethical plans on launching the AEPT to new investors in September 2009.

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