GRIP Unit Trust, Grainger and APG's PRS fund achieves treble success in GRESB 2014 results

Grainger plc ("Grainger", the "Group", "Company") GRIP UNIT TRUST, GRAINGER AND APG's PRS FUND ACHIEVES TREBLE SUCCESS IN GRESB 2014 RESULTS

GRIP Unit Trust (the "Fund"), the £349m market-let UK residential property fund, has had its distinguished sustainability credentials recognised by Global Real Estate Sustainability Benchmark ("GRESB"), an industry-driven annual survey which assesses the sustainability performance of global real estate portfolios. Grainger provides fund, asset and property management services to GRIP.

As part of its annual survey, GRESB analysed the comprehensive data submissions and responses made by the GRIP Unit Trust, ranking the portfolio's performance against relevant industry peers. This year, GRIP was placed into the 'European Residential' group consisting of 24 peer members and achieved an overall sustainability score of 60, against a peer group average of 49 and a 'Global' average of 47.

The GRESB awards reflected treble success for GRIP in its first full year of participation:

  • Awarded 'Sector leader' in the 'Residential Small Cap' (<1bn AUM) category.

  • Placed in the 'Green Star' category, which represents the highest category of performance.

  • Placed third out of all 24 European Residential company participants.

The impressive scoring by GRIP follows numerous positive initiatives which Grainger has implemented to improve the sustainability and efficiency of the portfolio. There has been a clear emphasis by the Fund on the use of sustainable and 'smart' materials, the employment of energy efficiency measures, as well as the provision of sustainability training to all dedicated GRIP staff.

GRIP was formed by Grainger, the UK's largest listed residential landlord, in partnership with APG, Europe's largest pension fund, in 2013 to invest in predominantly stabilised, market-let residential blocks and portfolios focused on Greater London, with additional scope to invest in Build to Rent development opportunities.

Paul Ruston, Head of GRIP Asset Management said: "These results are a fantastic achievement for GRIP, particularly given that this outstanding performance represents only the first full year of GRIP's participation in GRESB. What has been achieved is a clear indicator of the strategic initiatives executed over the past year. GRIP will continue to have a significant commitment to the area of sustainability with the aim of further improving the Fund's financial performance and 'green' credentials."
distributed by