02 March 2009

Climate Change Capital’s property team completes first purchase

(London - 02 March 2009) Climate Change Capital's property fund has completed its first purchase - a prime office and retail building in an excellent location overlooking the Cathedral in Birmingham's central business district. This landmark six storey property, comprising 67,000 sq ft of offices and 13,000 sq ft of retail, was acquired off market for an undisclosed sum. 5 St Philip's Place is let to the Department for Communities and Local Government while the retail occupiers include Marks and Spencer, HSBC and HBOS.

Tim Mockett, joint managing director of the property team, said: "Our first investment combines good sustainability credentials with an excellent location and a long term lease to a government tenant. This purchase is absolutely in the centre of our investment strategy"

"The intention is to manage this prestigious building in a sustainable way and we look forward to working with occupiers to improve the sustainability credentials of this building and indeed all our future assets. Retro fitting existing buildings within a sensible timeframe is a vital part of creating a low carbon economy".

Esme Lowe, the fellow joint managing director, said: "Deploying capital at this stage of the cycle underpins value with the opportunity to produce enhanced returns through proactively managing the risks associated with climate change. We are actively reviewing a number of opportunities and anticipate further acquisitions in line with our investment strategy."


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Enquiries:


 Climate Change Capital

Daniel Cremin +44 (0)20 7939 5319 dcremin@c-c-capital.com

Notes to Editors:


About Climate Change Capital Group Ltd Climate Change Capital Ltd. ("CCC") is an investment manager and advisor specialising in the opportunities created by the transition to the low carbon economy. Its activities aim to make the world's environment cleaner while delivering attractive financial returns. ·

  • Fund Management: Develops and manages funds that invest in companies, projects and technologies that provide products or services facilitating climate change mitigation or adaptation. CCC has over US$1.6 billion under management, as of October 2008, and focuses on the five alternative asset classes of, Carbon Infrastructure, Private Equity (CPE), Listed Equities, Property and Land and Water.
  • Advisory: Provides financial, strategic and policy advice to energy-intensive industries, financial institutions, clean technology companies and governments.

Through the combined talents of investment professionals, market specialists, and thought leaders we reconcile economic gain with environmental benefits without compromising implementation, discipline, client focus and accountability. We call this Creating Wealth Worth Having®.

 

To view photos of St Philips Place please click here

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