Construction begins on two new apartment buildings for Hestia, the residential Platform of Federated Hermes. Launch of phase two highlights positive social impact of the SOYO project within the city of Leeds and the wider region. Event brings together local leaders and stakeholders to reflect on 2.5 years of activity
Industrial asset management specialist NSM has let an additional unit to global logistics giant Hermes – with the deal from initial enquiry to occupation taking just five days. As demand for logistic and industrial space grows during the covid-19 crisis, NSM was initially approached by Hermes with a speculative enquiry
Construction begins on two new apartment buildings for Hestia, the residential Platform of Federated Hermes. Launch of phase two highlights positive social impact of the SOYO project within the city of Leeds and the wider region. Event brings together local leaders and stakeholders to reflect on 2.5 years of activity on SOYO, as well as plans for the future. Construction work has started on the latest Hestia apartment scheme in the SOYO district of Leeds, on behalf of Federated Hermes Limited and is scheduled for completion in late 2023. The scheme comprises two adjoining blocks in the new city centre district, with planning permission held for 331 apartments – a mixture of studio, 1,2 and 3 beds – as well as outdoor courtyards, and 12,000 sq. ft retail, restaurant and ground floor amenity space. The blocks will be delivered alongside new public realm including green spaces and a public square, in the fast-evolving cultural quarter of the city. Leeds-based DLG Architects have been tasked with designing the buildings with sustainability credentials that put the scheme on the Net Zero Carbon pathway by, using techniques to reduce embodied and operational carbon. Caddick Group businesses Caddick Developments, Caddick Land and Caddick Construction will work with the project team to take the scheme from blueprint to delivery. Myles Hartley, MD Caddick Developments said: “Projects like SOYO represent a huge investment in Leeds. This development will deliver new homes, commercial spaces and new landscaped areas – all things that will improve the physical built environment. As part the team developing Caddick’s wider ESG approach, I’m also hugely proud that we’ve been able to deliver the ambitious social value targets we set for ourselves, in spite of the challenges of the pandemic” Matt Chillingworth, Senior Investment Manager, Federated Hermes added: “Having established Hestia’s presence in Manchester, Liverpool and London, we are excited to bring the brand to Leeds. We are focused on delivering high quality mid-market, sustainable housing across the UK and in doing so are helping to deliver a meaningful impact on local communities. SOYO Leeds is an ideal location to achieve these goals. SOYO Leeds is using the opportunity to highlight the positive local impact of the development so far, which includes nearly 500 local Leeds residents being brought into employment on the first phase of SOYO – New York Square. The latest phase for Hestia will support a further 2,000 construction jobs, with the creation of 10 new apprenticeships. TT&G acted for Federated Hermes.
Industrial asset management specialist NSM has let an additional unit to global logistics giant Hermes – with the deal from initial enquiry to occupation taking just five days. As demand for logistic and industrial space grows during the covid-19 crisis, NSM was initially approached by Hermes with a speculative enquiry on Monday April 27 for expansion space at the Vector 31 Industrial Park, close to Junction 31 of the M1. A viewing was arranged, and Head of Terms were finalised within 24 hours. The lease was agreed and signed a day later with Hermes taking occupation of the 11,650 sq. ft unit on Friday May 1st. NSM Managing Director Nicky Jones said: “Demand for quality logistics and industrial space is huge at the moment but even in our most optimistic moment we never thought we would be able to deliver a deal like this in such a tight timeframe. I am incredibly proud of the NSM team and our partners for making a 5-day turnaround possible, it really shows how agile our business is. “We are obviously delighted to assist a current tenant and we have also been able to offer flexible leasing terms that suit their current business demands.” Vector 31 offers nine high quality modern industrial units with gated yards, centrally heated offices, dedicated car parking, heating and lighting in the warehousing areas, as well as 7m high eaves. As an industrial asset management specialist NSM manages more than 4.3million sq. ft of industrial property across the north. It currently looks after 669 units nationally with a rent roll in excess of £14m. David McPherson, Head of Depots said “We’re delighted that NSM has been able to support Hermes with a quick turnaround on the letting. Our business is incredibly agile and needs to have the ability to quickly scale up when demand is high, the pandemic has accelerated the shift from the high street to online. Additional pop-up depots like these give us the opportunity to operate safely and continue to support our clients so we can meet demand from the end customer and in turn support the government’s guidance to stay home wherever possible.”
