New sustainable property fund launched

Property consultant DTZ has teamed up with Kenmore Property Group to launch a new sustainable investment fund.

Susteno, which will be formally unveiled tomorrow, will focus on pan-European investment, primarily in city centre locations, and will comprise of a blend of new property as well as refurbished buildings and existing assets “that meet the fund’s environmental criteria”.

The two firm has have drawn on a team of experts to advise on the fund, including QS Cyril Sweett, lawyer Herbert Smith and sustainable charity Forum for the Future.

Kenmore Property Group will co-invest in Susteno and act as asset/development manager. DTZ will act as the investment manager and property manager, as well as raising capital. Kenmore has current assets under management in excess of £1.7 billion and is active throughout Europe.

Matthew Allen, director at DTZ, said: “This fund has been developed as a commercial response to the increasingly important matter of environmental sustainability, where moral and economic imperatives are converging to drive change in the property industry. This is a secular change which we believe is set to sharply accelerate.”

Rob Brook, managing director for Kenmore, added: “The creation of Susteno marks a significant point in the evolution of the commercial property market.”