Our Milestones & Achievements
A timeline of Impact Investment Group
The L&S Byron Trust buys Quiksilver Flagship Store in Byron Bay, NSW for $5.25m. In the following months, IIG will manage the installation of 10kW of solar panels and more efficient lighting. Those impact upgrades will roughly halve the property's demand of electricity from the grid.
When the property is later sold in September 2015, the an approximate pre-tax, post-fees total return (income and capital) to Unit Holders in the Trust was approximately 65.0%.
An IIG trust purchases the EPA Building in Carlton, Victoria, for $33.5m. The property is famous in the industry as a one of Australia’s most environmentally sound commercial office buildings with a rare 6 Star green rating.
At the end of 2013, after less than a year of operation, IIG has four trusts under management; They own the Byron Bay Quiksilver property, a Quiksilver distribution center in Geelong, Victoria, had helped finance construction of Medical Consulting Suites in Gosford NSW, and the newly acquired EPA building in Carlton.
IIG issues it's first renewable energy infrastructure opportunity. The IIG Wind Trust will help finance the construction of a three-turbine windfarm in Chepstowe, Victoria, west of Ballarat.
The IIG TAC Property Trust finalises its purchase of the $95.8m TAC headquarters in Geelong. It is the company's largest transaction to date. At the point of acquisition the TAC building already performing well environmentally, but over the period of our management, we will have extra solar panels and water storage installed, set up a space for purpose-driven local businesses and freelancers. In early 2018, IIG contracted to sell the property at a significantly increased valuation, providing an IRR above 14%.
IIG provided a working capital loan to the Australian social enterprise ‘Who Gives A Crap’. Who Gives a Crap sells environmentally friendly toilet paper with 50% of the profits going to sanitation projects overseas.
IIG acquires the iconic headquarters of the Lonely Planet at 90 Maribyrnong Street, Footscray for $13.5m. The property comprises approximately 7,000 square metres of high quality office accommodation at the gateway to the growing western corridor and Melbourne CBD. IIG starts an impact program to dramatically improve the energy performance of the property, and transform it into a center for co-working, innovation, and values-aligned business.
IIG acquires the brand new premium commercial office tower, ‘Kingsgate’, for $113.8 million. It is located at 1 Kings Street in Fortitude Valley, Brisbane. The 6 star Green Star building is a showpiece for its developer, the ASX top 50 award-winning Lend Lease. Kingsgate is the new Queensland headquarters of Lendlease, who committed to occupy the building as its anchor tenant for a minimum initial term of 12 years.
Kingsgate is sold in 2018, providing investors 17.9% IRR.
In January 2016, IIG acquires the brand new Gold Coast Surgical Hospital for $45.8 million. The Hospital is located in the Healthcare precinct of Robina / Varsity Lakes, in close proximity to Bond University and the M1 Motorway.
IIG launches the IIG Solar Income Fund, IIG’s first investment fund dedicated to renewable energy infrastructure. The Fund was established in response to investor demand for passive investments with relatively secure, long-term income streams. The Fund provides investors access to a $65m portfolio of operational Australian solar farms and is expected to deliver a pre-tax Internal Rate of Return of approximately 10% over the life of the Fund with low correlation to market and economic conditions. The Fund closed in four days after opening due to enormous demand from investors. The Solar Income Fund is expected to abate 48,000 tonnes of CO2 emissions annually, and provide clean energy for the equivalent of 9,000 Australian homes once fully deployed.
IIG launches the Giant Leap Fund, a 100% impact venture capital fund. The $13 million Fund is dedicated to investing in exceptional, rapidly scalable impact businesses. Giant Leap’s first two investments, were in YourGrocer, who offer same-day delivery from independent businesses including butchers, green grocers, bakers and delicatessens, and Sendle, a carbon-neutral parcel delivery service.
IIG acquires the historic Younghusband Woolstores and two neighbouring properties covering more than 1.5 hectares of land in Melbourne's inner-northwest, featuring current buildings with approximately 30,000sqm of lettable area. The three properties are within the area of City of Melbourne s Arden-Macauley revitalisation plan. IIG engaged world renowned architectural firm Woods Bagot to create a master plan for developing the site into a major hub of commercial, creative and entrepreneurial activity, targeting an energy and water neutral site.
IIG partners with global property developer Lendlease Group to develop, lease and manage the industry-leading 25 King office building, in Brisbane’s Showgrounds area. IIG will fund the property through development, and own the property at practical completion, which is due in mid 2018. The purchase price reflects a valuation of approximately $140 million and a net passing yield of 6.5%. 25 King will be an office tower showcasing best-in-class environmental sustainability, making extensive use of hi-tech engineered timber, a material which produces less CO2e and building waste through construction. 25 King will have more than 14,000m2 of A-grade office accommodation over nine levels, and almost 500m2 of retail space on the ground floor.
IIG enters the Sydney property market, securing options to buy into the iconic project, Central Park, a $2 billion mixed-use master planned development, and a beacon of sustainability in urban renewal. IIG entered into Put and Call Options with joint venture developers Frasers Property Australia and Sekisui House Australia to acquire two of the final properties to be built in the Central Park precinct for approximately $190 million.
IIG exchanges contracts to buy the freehold of the Byron Bay Beach Hotel, with the intention to remove the gaming machines, upgrade the accommodations, and improve the environmental performance of the property, targeting a carbon and water property on completion of the impact works. The vision for the property is to create a gathering place that demonstrates an environmentally sensitive, socially aware and safe place for people to meet, eat, drink and enjoy the best of Byron Bay.
IIG launches the Solar Asset Fund, An opportunity for wholesale investors to co-invest with IIG in an unlisted portfolio of up to $180m in Australian solar infrastructure assets, with exposure to the electricity spot market.
This is the next stage in IIG’s clean energy journey, following the successful 2016 launch and delivery of the IIG Solar Income Fund.
IIG raises the capital to fund the development of Northumberland, a new pair of A-Grade green buildings on Melbourne's city fringe.