London – The International business of Federated Hermes and Dar Group announce a new partnership to support the development of Dar’s new UK headquarters at 150 Holborn. The agreement will see Federated Hermes provide £100 million of development and investment financing over a 10-year term.
Dar Group is a leading international consultancy active in infrastructure, architecture, project management and energy. The Group companies include Dar Al-Handasah, Perkins&Will, Currie & Brown, T.Y. Lin International, and Penspen.
The Perkins&Will-designed scheme will provide a mix of office and retail space over eight floors. In line with Dar Group’s commitment to a sustainable future, the new HQ is being built to BREEAM Outstanding, LEED Platinum, and WiredScore Platinum standards. A pavilion and roof garden promote staff and local well-being and a large, planted terrace offers views towards St. Paul’s Cathedral. There is a provision for 231 cycle parking spaces to encourage active commuting. The building is located at the exit of Chancery Lane tube station, and a short walk away from Farringdon which has great connectivity once the Elizabeth Line opens.
Ben Patton, Head of Real Estate Debt at Federated Hermes, said:
“It is a privilege to be able to form this long-term partnership with the Dar Group and to support their ambitious plans for what will be a prestigious building in the heart of London. The financing has been structured to accommodate both the development and occupational phases of the asset over a 10-year period and provides an attractive fixed rate return as well as a compelling sustainable investment for our debt strategy.”
Nader Aboushadi, Group Treasurer, Dar Group and Director of 150 Holborn Real Estate, said:
“We are very excited about this project and this partnership. Having Federated Hermes, on behalf of its pension fund clients, as a partner to us in this landmark project is testament to the strength of Dar Group, and its future ambitions. As the group’s new London HQ’s, 150 Holborn will bring together all of Dar Group’s world class engineering brands under one roof, to the benefit of our clients and our business.”