Elite Commercial REIT embarks on first sustainability collaboration with the Department for Work and Pensions

Elite Commercial REIT has signed separate agreements with its tenant, the Secretary of State for Levelling Up, Housing and Communities of the United Kingdom, to undertake asset-enhancement works across the assets in the REIT’s portfolio that are occupied by the Department for Work and Pensions (DWP) to target sustainability and climate adaptation requirements. This is in line with the UK government’s commitment to achieve net-zero carbon emissions by 2050.

Under the terms of the agreement, the REIT will invest £12.5 million (€14.87 million/$16.75 million) over three years toward asset-enhancement works to improve sustainability and energy efficiency credentials of properties in its portfolio now occupied by DWP. This marks Elite Commercial REIT’s first collaboration with the DWP to boost sustainability and energy efficiency of their occupied estate.

Asset-enhancement works meeting pre-agreed criteria including repair, replacement or upgrade of the lighting sy