Irish company IPUT Real Estate has said that it is to invest over €500m in the regeneration and development of its office and logistics portfolio over the next five years. The company said that it is also preparing a detailed net zero carbon pathway to 2030 which will be published later in 2021 and will inform its responsible investment strategy for the next decade.
The firm said that it had delivered a strong financial and operating performance in 2020, with rent collection being 97 per cent. A cash dividend of €102.5m was paid to shareholders representing a yield of 3.8 per cent. Following an active year of lettings and rent reviews, contracted rent increased to €122m at 2020 year-end with visibility on rental income increasing to €160m over the next three years.
Niall Gaffney, CEO of IPUT Real Estate, said: “Responsible investment has been at the forefront of our investment strategy for over a decade. Our 2020 Report, “Greening Our Portfolio” sets out our sustainability journey and the progress we have made over the past year. We achieved a GRESB ‘4-Star’ rating, an inaugural ‘A’ rating from PRI and became the first Irish real estate company to sign up to the World Green Building Council’s Net Zero Carbon Buildings Commitment. Responsible investment is key to addressing climate change issues but is also important to meet the evolving needs of our occupiers and to continuing to build long-term resilience into our business.”
This post has originally been featured in Property Wire.