Federated Hermes, the global investment manager, has completed a letting with specialist pensions administrator Trafalgar House to take 5,548 sq ft of space at Ascent 4, within the Farnborough Aerospace Centre.
Located on the second floor of this extensively refurbished 60,000 sq ft building, Ascent 4 will be the second office for Trafalgar House and will be used by the company as a base for future growth and to meet the continuing strong demand from the pensions market for quality-focused administration services.
Designed by Hale Architects, Ascent 4 features contemporary office accommodation with flexible floor plates which can be easily adapted to changing business requirements and to allow for social distancing. The space also comprises a spacious reception area on the ground floor, and benefits from an Ascent-led community engagement calendar with food trucks, pop-up stores, health and wellbeing activities, seasonal fairs and charitable events.
Stephen Ellis, Senior Investment Manager, International at Federated Hermes, said: “This signing with Trafalgar House highlights the sustained demand for flexible office space in spite of the current Covid-19 crisis. We are continuing to invest into the scheme to ensure its long-term purpose and stability, and are pleased to be part of Trafalgar House’s growth, as we welcome them to the business park and all it has to offer.”
Garry Wake, Managing Director of Trafalgar House, said: “Last year our revenues increased by 38% and we continue to see strong demand from a market that is recognising the benefits of quality pensions administration. Because of our heritage as an in-house administrator and our focus on member care, we have gained an enormous amount of experience with pension schemes outsourcing for the first time; we see demand and the trend to outsource in this space continuing, especially in light of the operational pressures Covid-19 has placed on in-house teams.
“The Farnborough office will give us the platform and space we need to continue to carefully grow the business, with new clients that are already outsourced, and those looking to do so for the first time. Now is the right time to launch our second office.”
Canmoor has been Federated Hermes’ retained strategic advisor throughout the on-going repositioning of the four buildings located at the 250,000 sq ft Ascent Farnborough site. Enhancements to the on-site amenity provisions are ongoing and additional works are expected to progress shortly. Cushman & Wakefield and Hollis Hockley act as joint leasing agents for Federated Hermes. DeVono Cresa acted for Trafalgar House.
