Hermes Investment Management has gained consent for an £18 million refurbishment of the Ascent Buildings in the Farnborough Aerospace Centre, comprising four office buildings totalling 240,000 sq ft. Canmoor has been mandated to work on the development.
Skansen has been contracted to commence the first phase of the refurbishment works on Ascent 4 in the next month and it is scheduled to be completed by autumn 2017.
Designed by Hale Architecture, the renovation will “enhance three of the buildings and reconfigure the existing offices to create a modern business environment”. The improvements will feature new glazing, including a glass atrium, which will be a key focal point for Ascent 1, upgraded bathroom facilities for employees who might want to cycle to the office, enlarged reception areas and bespoke LED lighting technology.
Paul Wray, asset manager, Hermes Investment Management, said: “The planning decision is a positive step in progressing with the revitalisation of these key office buildings and attracting more businesses to the area. The high-quality redevelopment plans are set to create a modern day working environment, which complements the corporate headquarters of international brands such as BAE Systems and Zurich. As sustainability is also an important part of the renovation, we are proud to be working towards being certified ‘Very Good/Excellent’ by BREEAM (Building Research Establishment Environmental Assessment Method).”
The approved refurbishment plans, due to be completed by Summer 2018, coincide with the recent announcement of the Ascent re-branding. Previously named Warwick, York, Zurich and Infor House, the four office buildings have been renamed collectively as the Ascent Buildings, with numerals reflecting the positions of the buildings on entry to the Farnborough Aerospace Centre.
Hermes Investment Management has appointed Canmoor in an advisory role throughout the refurbishment and lettings process.