The international business of Federated Hermes has announced that leading health technology company, Philips UKI, has committed to 40,000 sq ft of office accommodation at Ascent Farnborough to bring all its UK employees together in a new purpose built and dynamic facility.
Philips is a key partner to the NHS and employs over 1,000 people across the UK. The extensive new office, spanning two floors of the newly refurbished Ascent 1 building, will serve as Philip’s new UK headquarters and also bring together all of the company’s supporting offices.
Set to open from March 2021, the new office will support Philip’s current and future growth, while providing a collaborative working environment. Philips initial migration will ensure a Covid-19 safe environment for essential operations, with a full return for employees expected later this year.
As part of its criteria for selecting a new office space, Philips searched for a business partner that shared its focus on environmental issues. The recent refurbishment undertaken by Federated Hermes at Ascent 1 secured a BREEAM rating of excellence which was a key consideration for Philips UKI. Ascent 1’s sustainability credentials include fitted solar panels to offset energy usage, electric vehicle charging points and natural habitats that are protected and encouraged, both around the office and in shared outside spaces.
Philips will also benefit from Ascent 1’s adaptable office floorplates, and has secured Ascent 1’s 2,200 sq ft triple-height atrium as a dedicated area, providing a light-filled communal break out space for employees.
As part of its tenancy and when restrictions allow, Philips will have access to Ascent’s wider community engagement calendar, comprising regular food trucks, box café, pop-up stores, seasonal markets, gym and wellbeing activations.
Stephen Ellis, Senior Investment Manager, international business of Federated Hermes, commented on the signing: “Philips’ long-term commitment to a significant proportion of the Ascent 1 building reflects the current demand for premium accommodation which is more than just an office. More than even before, companies are seeking space, amenities and a sense of community, all of which Ascent Farnborough offers in abundance. We look forward to welcoming an international leader in its sector to the business park, and seeing this newly refurbished building put to excellent use as a headquarter.”
Neil Hockley, Partner at Hollis Hockley added: “The newly launched Ascent 1 building will be a fantastic new base for Philips’ operations across the UK. Surrounded by other leaders in technology and innovation, Ascent Farnborough is the ideal environment for Philips to foster its long-term company objectives, while prioritising the wellbeing, development and lifestyles of its employees.”
Canmoor has been Federated Hermes’ retained strategic advisor throughout the on-going repositioning of the four buildings that comprise 250,000 sq ft Ascent Farnborough, with further additional works underway including enhancement to the on-site amenity provision.
Cushman & Wakefield and Hollis Hockley act as joint leasing agents for Federated Hermes. Cushman & Wakefield acted for Philips.