BGO’s London team scores highest rating in the 2024 GRESB report for standing investment and development
London (November 12, 2024) - BGO’s central London office fund, Welput, announced that it has once again achieved outstanding results in the 2024 GRESB Real Estate Benchmarking Report, placing 1st in its Standing Investments Peer Group and 3rd in the Development Peer Group. For the Standing Investments Peer Group, Welput scored 92/100, and in the Development Component scored 97/100, significantly outperforming the industry average and representing its best set of GRESB results to date. The 2024 GRESB Real Estate Benchmarking Report, published in October 2024, also awarded Welput five stars – the highest possible rating – for both Standing Investments and Development setting new benchmarks for sustainability and performance.
GRESB assesses sustainability performance across real estate and infrastructure investors and developers, reviewing firms based on factors including energy efficiency, carbon emissions, and social impacts. Welput achieved impressive results, across the board, particularly in management practices where the team consistently scored high across all aspect, including in leadership, policies, stakeholder engagement, and data monitoring. The overall score positions the team as industry leaders, placing Welput 21% ahead of the average score of all global GRESB participants.
Merrik Baggallay, Managing Director at BGO, said, “Achieving five stars in both categories is a testament to the hard work and dedication of our team, who prioritise doing the right thing when it comes to sustainability. Welput's 2024 results build on the strong ESG credentials demonstrated consistently since its initial GRESB submission in 2014. This score reaffirms a longstanding commitment to sustainability, community engagement, and robust governance as integral to our investment strategy.”
Welput’s portfolio includes its flagship project 105 Victoria Street, set to become a landmark in sustainable office design when complete in 2026. Once completed, it will be the UK's largest all-electric, net-zero operational building, focusing on sustainability at every stage. 105 Victoria Street was one of the first schemes to champion whole life-cycle carbon analysis as part of its planning submission and it continues to track progress through each design phase through to completion. With a fully fossil fuel-free energy strategy and modular design for adaptability, the building is designed to achieve net-positive carbon operations within six years. Key features also include a high-performance façade optimised for energy efficiency and an urban farm on the 15th floor, encouraging community engagement and urban agriculture.
Learn more about BGO’s sustainable investing approach at www.bgo.com/esg
About BGO
BGO is a leading, global real estate investment management advisor and a globally-recognised provider of real estate services. BGO serves the interests of more than 750 institutional clients with approximately $85 billion USD of assets under management (as of September 30, 2024) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BGO has offices in 27 cities across 13 countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets.
BGO is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.
The assets under management shown above includes real estate equity and mortgage investments managed by the BGO group of companies and their affiliates, and as of 1Q24, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment.
For more information, please visit www.bgo.com
About Welput
Welput was formed in 2001 and is the largest unlisted specialist real estate fund to invest in and develop Central London offices. The fund currently holds a portfolio of 10 assets, comprising 1.2 million sq. ft of accommodation, spread across Central London’s core sub-markets. Welput is wholly managed by BGO and is supported by a dedicated team of in-house specialists with extensive experience in the fund, investment, asset, and development management of London properties.
Since inception, the team has developed over 3.3m sq. ft of accommodation on behalf of Welput and other BGO funds. Welput’s development strategy looks to challenge and outperform industry standards rather than tick boxes - continually seeking new and innovative ways to create a long-term positive impact on the city, but more importantly, the planet and the people who depend on it. Maximising social impact is a key objective and a strategy for enhanced consultation with local communities helps to drive decision-making - connecting people and creating opportunity.
Welput’s world class and planet friendly places are designed with the future in mind. A pragmatic and prudent approach to management ensures the infrastructure and agility to meet evolving occupational and environmental needs. Over 20 years, Welput has forged long-term, collaborative relationships with some of the world's leading businesses, and continues to seek like-minded partners.
For more information, please visit www.welput.com
About GRESB
The GRESB B.V. (GRESB) Real Estate Assessment underpins the investor-driven global ESG benchmark and reporting framework for listed property companies, private property funds, developers, and investors that invest directly in real estate. GRESB created and tabulated the Funds score, which covers activities taking place during calendar years 2022 and 2023 and is typically released on or around October 1 after a submission is made to GRESB. A participation assessment fee is paid for such submission. BGO is a member of the GRESB Real Estate Assessment, and each strategy participates in a peer group based on the asset characteristics of the portfolios reported.
For more information, please visit https://www.gresb.com/nl-en/real-estate-assessment/
