Our partnership with Federated Hermes, and the existing joint venture investments we have together in Birmingham, Leeds, Oxford and London, deliver strong results to help us support the CPP's contributors and beneficiaries and form part of our wider commitment to continued investments in the U.K." and deliver on the increasing demand from both local and international corporates who are looking for high-quality office space within the city. The project is very well positioned to support the growth of Birmingham as a modern and expanding centre in the U.K. Real Estate, CPP Investments, said: "We are delighted to extend our successful partnership with Federated Hermes through this investment in One Centenary Way. Tom Jackson, Managing Director, Head of U.K. In addition, the building's basement will host Birmingham's first public cycle hub. One Centenary Way is targeting a BREEAM Excellent rating 1 and Energy Performance Certificate B rating 2. Examples include a 'smart enabled' digital system architecture to allow occupiers to realise energy savings and streamline operations, and the use of all-electric HVAC and heat pump technology to utilise thermal energy. The site has been low-carbon during construction and upon completion the building will offer carbon reducing solutions to tenants. Throughout the design period of One Centenary Way, supporting a sustainable future for the built environment and providing tenants with low-carbon solutions, were a key focus. Paradise is a landmark development for the people of Birmingham, and we look forward to continuing our ongoing work with all of our partners." We have worked closely with CPP Investments on the delivery of the first phase of the project and are thrilled that they are investing in One Centenary Way, which will further add to Paradise's credentials as a leading business destination in the U.K. Completion is expected for Q1 2023.Ĭhris Taylor, CEO of Real Estate at the international business of Federated Hermes and Chairman of MEPC, said: "This deal is a vote of confidence in the city of Birmingham and Paradise specifically. The site will deliver 286,000 square feet of office space in addition to ground floor retail and other public spaces. The joint venture will fund the development of One Centenary Way, a 13-storey mixed-use development. This transaction follows CPP Investments and Federated Hermes' joint-venture funding of the first phase of Paradise, Birmingham which included the development of One and Two Chamberlain Square.
15, 2021 /CNW/ - The international business of Federated Hermes on behalf of BT Pension Scheme (BTPS) and Canada Pension Plan Investment Board ( CPP Investments) today announce they are to become joint-venture partners on the development of One Centenary Way at Paradise Birmingham, with CPP Investments committing approximately £56m.