The International business of Federated Hermes has today announced the launch of a new Residential brand – Hestia. The new brand will consist of a portfolio of existing residential assets and new developments, with two acquisitions being announced today: Axion House, a Shared ownership and social rent development in Lewisham, South East London, and two adjoining Build to Rent (BtR) sites located in central Leeds.
Hestia will embody Federated Hermes’ established Responsible Property Investment agenda by linking each individual development to a wider virtual community of residents and ensuring that positive environmental and community outcomes can be effectively communicated with them. This will enable residents to have more connection with the landlord, who in turn can better respond to customer needs, while also delivering on location and price.
Among the new acquisitions, Axion House, which comprises 141 new apartments for shared ownership and social housing set within landscaped grounds, has already been awarded planning consent and is currently undergoing enabling works to support the launch of construction work on-site. With the final development specification yet to be finalised, there will be a significant focus on sustainability throughout the design process.
The new Leeds BtR development is centrally located, situated less than a mile from the city centre and benefiting from the creation of new public green spaces as part of a wider regeneration within the cultural district. It will comprise 333 apartments and 12,200 sq ft of retail, restaurant and amenity space.
Chris Taylor, CEO of Real Estate at Federated Hermes, said:
“Delivering relevant real estate and positive societal and environmental outcomes for all stakeholders is core to our proposition. The launch of Hestia today allows us to build on this responsible approach and developing our existing residential portfolio further in an area where we are seeing exciting investment opportunities.”
Will Gibby, Director, Fund Management, at Federated Hermes, said:
„The launch of the Hestia brand provides the residential team with a basis from which to drive long-term future growth and investment into this part of the business, positioning it alongside other key players in the industry. The Hestia team is taking a holistic view in delivering affordable and mid-market range residential assets that will have a positive impact on the environment and communities in which they are located and good return potential for our investor BTPS.”
Existing assets joining the new Hestia brand include The Cargo Building, a 324-unit residential scheme in Liverpool, which recently achieved a world first BREEAM In-Use (BIU) Residential certification. This followed a rigorous evaluation process to benchmark and assess its sustainability performance across a selection of key areas, including energy efficiency, health and wellbeing, and resilience. Pomona Wharf, situated in central Manchester and comprising 164 residential units, will also join the Hestia brand.
Federated Hermes manages BtR properties in the UK, Australia and USA. British Telecom Pension Scheme (BTPS) has provided capital to deliver the Hestia-branded BtR developments.