The Armstrong Residential High Yield fund has formalised its carbon strategy, renewing its focus on socially and environmentally responsible investment.
The fund, which invests in residential property for social housing, student accommodation and private tenants in the UK, has introduced a number of initiatives including the installation of insulation and environmentally friendly light bulbs. Fairbairn said it had been a positive move for both tenants of the properties and investors: He said: “You can deliver solid returns to investors but still do that on a socially and environmentally responsible basis.”
In practice, Armstrong is working to make its properties as energy efficient as possible, to bring them to a carbon neutral position.
Fairbairn said as a result he had found tenants in properties that had been improved tended to stay longer. Of Armstrong’s 300 units, around half so far have benefited from some type of initiative. Fairbairn said: “There are many simple practical things which all make a positive impact, for example, all out main properties use power supplied by Ecotricity – a wind based generator.
“This not only has an environmental impact but has also reduced the running costs in these buildings.”
Caring for children and elderly relatives
Similar to June 2007
Square Mile’s series of informal interviews
Fine reduced to £60,000
Two roles created