a.s.r. real estate

CSR - ASR Dutch Mobility Office Fund

undefinedThe aim of the ASR Dutch Mobility Office Fund is to establish and maintain an office portfolio with an intrinsic long-term value. As defined in the ASR DMOF strategy, long-term value can be created near national and international mobility hubs with a strong focus on train stations. We aim to offer offices that are comfortable, accommodate multiple tenants and meet the current and future wishes of tenants in terms of use, flexibility and sustainability. These offices have a proven track record as being among the most attractive places to work throughout the economic office real estate cycle.

Our CSR policy is based on four key pillars, the four Ps: Property, People, Partners and Planet. This means that, in our efforts to achieve a sustainable property portfolio, we seek to build long-term relationships with sustainable partners. We are also looking to make an active contribution ourselves to society and the environment. For details on how we go about doing this, we refer to the CSR policy ASR DMOF 2019-2021. Each P has a strategic objective. The CSR annual report describes the results of the strategic objectives.

GRESB – three star rating
Since 2018, the Fund’s CSR performance is measured and explained in the GRESB benchmark. GRESB is an independent, scientifically based benchmark that assesses sustainability policies and their execution of real estate funds and portfolios worldwide.

The Fund took part in the GRESB Survey for the first time this year, scoring 70 out of 100 points immediately and obtaining a three-star rating. The Fund is even outperforming the benchmark, both the GRESB average as the peer group average. The Fund scored 89 points for ‘Management & Policy' and 64 points on ‘Implementation & Measurement’.

For the years to come, the Fund expects their GRESB score will increase even more due to their focus on tenant satisfaction within a new survey, Green Building Certificates and the portfolio’s energy performance



An energy label A for > 90% of the portfolio

In order to speed up progress towards sustainability in the office market, the Dutch government has adopted a policy of requiring investors to invest in their properties and obtain a minimum energy label of C. From 2023 onwards, all Dutch office buildings will be required to have energy label C or higher (except for offices that are smaller than 100 sq. m. and listed buildings). Properties that do not comply with this requirement by 2023 will no longer be permitted to be used as office buildings. All the Fund’s offices are energy label certified. ASR DMOF aims to obtain a Green Label (energy label C or higher) for at least 90% of its properties by the end of the policy period. In order to achieve this, properties will be renovated at appropriate points in the operational cycle and be made more sustainable.

Over the past two years, the Fund has taken major steps in preparing and implementing a number of refurbishment and renovation projects within the portfolio. Some of these refurbishment and renovation decisions have naturally led to an energy label improvement. This process will continue over the years to come, fulfilling the target of 90% of properties being awarded a Green Label. By the end of 2018, 76% of the portfolio (including pipeline) will have achieved a Green Label. In 2018, the Fund purchased a new-to-build office (Wonderwoods) which will achieve an Energy Label A or higher when completed (Q1 2021).