Oyster targets greener property portfolio5 December 2022 / 3 min read
Leading New Zealand commercial property fund manager Oyster Property Group (Oyster) is working to minimise its environmental footprint and support the sustainability goals of its tenants.
Leading New Zealand commercial property fund manager Oyster Property Group (Oyster) is aiming to optimise energy efficiency across its entire property portfolio to minimise its environmental footprint and support the sustainability goals of its tenants.
Oyster manages a diversified range of properties throughout New Zealand with a combined portfolio value in excess of $2.0 billion.
This includes a mix of nearly 40 assets that serve as a base for more than 480 tenants across office, industrial, large format retail and shopping centre spaces spread over Auckland, Hamilton, Tauranga, Wellington and Christchurch.
Oyster Chief Executive, Mark Schiele, says driving ways to reduce the business’s environmental impact is one way it manages risk and drives value and opportunity for its tenants and investors.
“Sustainability plays a core role in how commercial real estate can be a conduit for change and contribute to a better New Zealand,” Schiele says.
“Oyster is proud to be part of the community of businesses working proactively to accelerate our country’s transition to a greener economy.
“Our investors benefit from knowing that their investments meet the growing demand from tenants for a landlord who is invested in sustainable outcomes and proactively takes steps to lower carbon emissions.”
Over the last 12 months, Oyster has achieved baseline ratings (3 stars and above) under the National Australian Built Environment Rating System in New Zealand (NABERSNZ) at 28 of its commercial properties, with 20 achieving 4-stars or higher, which means excellent performance.
NABERSNZ is a government-backed independent rating system endorsed by the New Zealand Green Building Council (NZGBC) to assess the energy efficiency of in-use buildings.
Where appropriate, Oyster has also set its sights on obtaining Green Star certification for all its Industrial and Large Format Retail properties. Green Star certification also has the backing of the NZGBC.
Other sustainability initiatives underway include the installation of ‘smart’ electricity and water meters across Oyster’s assets, which will streamline how energy and water consumption data is captured. A strategy to measure, manage and reduce Oyster’s (as manager of various properties and funds) carbon emissions is being developed in partnership with independent environmental experts Toitū Envirocare, which supports New Zealand businesses with environmental frameworks to drive real progress.
Oyster General Manager – Property, Steven Harris, says the business is proud of the progress it has made so far, through which it has laid solid foundations that will enable it to meet the needs of tenants well into the future.
“As a business, it is critical that we play our part in reducing our environmental impact,” Harris says. “This is important to us and to our tenants – they care about the environment and have sustainability goals that we as their landlord can partner with them to achieve.
“It’s exciting work that will contribute to ensuring we strengthen and grow our reputation as a landlord of choice.”