federated hermes

Federated Hermes and MEPC start on site at net-zero Manchester office development



Construction work has formally started at Federated Hermes and MEPC’s flagship office development in central Manchester’s NOMA neighbourhood.

The 200,000 sq ft commercial building called 4 Angel Square is being built speculatively, and will be operationally net zero, in line with Federated Hermes' and MEPC’s sustainability commitments.

A socially-distanced, groundbreaking ceremony was attended by representatives from the international business of Federated Hermes (the investment manager for NOMA), development manager MEPC, main contractor Bowmer + Kirkland (B+K), and Manchester City Council.

The Grade A office development is expected to reach practical completion in 2023.

Paul Pavia, head of development at MEPC, said: “We recognise our role in addressing the climate crisis and the role of sustainable assets in achieving net-zero targets. 

“Developments like 4 Angel Square establish a benchmark for the wider real estate industry and encapsulate our ethos as a business. 

“Our business exists within a wider ecosystem and, by placing responsible property investment at the heart of everything we do, this enables us to deliver on our obligations to all our stakeholders, while making a positive impact on society as a whole.”
 
Stephen Bradley, director for investment management at Federated Hermes, added: "4 Angel Square will be more than just a place to work. 

“The design of the building, generous public realm, integration of smart technology, and focus on energy efficiency is about providing a user experience that reinforces collaboration, enhances creativity, and makes coming to the office a more fulfilling experience."
 
Neil Brook, regional director for the North West at B+K, said the company was looking to work with MEPC to reduce embodied carbon in all the components, and provide the most efficient use of energy in the completed building.

“We will also be looking to maximise the social value delivered through the project, working with third-sector organisations to create opportunities for local people and businesses.”
 
Sir Richard Leese, leader of Manchester City Council, commented: "The NOMA estate has built an international reputation for design and low-carbon standards, and 4 Angel Square looks again to meet their mark of quality.”

He added that investment at this scale should be “celebrated as a sign of confidence in the city”, and that it was “vital” to continue to attract this type of development to support the city’s recovery following the pandemic.

Pictured above (L-R): Paul Pavia, head of development at MEPC; Chris Kirkland, main board director at Bowmer & Kirkland; Sir Richard Leese, leader of Manchester City Council; Dan Hyde, senior development manager at MEPC; Neil Brook, regional director for North West at Bowmer & Kirkland



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