New brand will bring together portfolio of build-to-rent assets across UK
What International investor-developer launches BTR brand and makes new acquisitions
Why Hestia will bring communities in different developments under one management umbrella
What next Two schemes added to portfolio on completion
Federated Hermes has launched residential brand Hestia, backed by the British Telecom Pension Scheme, which will be made up of a portfolio of existing and new-build residential developments including two recent acquisitions in Lewisham and Leeds.
British Telecom Pension Scheme, which was previously the owner of 60% of Hermes before selling to Federated in 2018, has provided the capital to deliver the Hestia-branded BtR developments.
Axion House in Lewisham will total 141 apartments for shared ownership and social housing, and has already been granted planning consent with enabling works under way.
In Leeds, Federated Hermes has acquired an interlinked build-to-rent development in the city, with planning consent for 333 apartments and 12,200 sq ft of retail, restaurant and amenity.
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.”