A long term macro-trend; addressing Britain’s housing supply crisis is one of the single most important priorities facing the UK today, with housebuilding lagging significantly behind the requirement for 250,000 new homes per annum.
LGC is committed to investing in housing across the spectrum. As such, it is focusing on institutionalising the following sectors:
Noteworthy examples of our housing investment activities to date include:
- In February 2016, LGC announced the launch of its modular housing business, Legal & General Homes, which will seek to modernise the home building industry by providing modern, precision engineered factory manufactured houses through its new 550,000 sq ft factory in Leeds. Initially employing 400 to 500 local people, it expects to deliver its first houses from the factory at the end of June. Please visit our L&G Homes website to find out more.
- In February 2016, LGC secured its third Build to Rent development site, in partnership with Dutch pension fund manager PGGM, with the acquisition of a cleared site in Bristol with planning consent to deliver 168 homes.
- In January 2016, LGC and Dutch pension fund manager, PGGM, launched a Build to Rent partnership. The partnership will initially invest £600m into building purpose built private rental housing across the UK, providing over 3000 homes.
- In July 2015, LGC secured its second Build to Rent site, with the forward funding of a 90 home schemes within ECf’s New Bailey development in Salford.
- In February 2015, LGC secured full planning consent to build 1,000 new much-needed houses and related infrastructure on a 250 acre site at Crowthorne.
- In January 2015, LGC entered the Build to Rent market, acquiring a regeneration site in Walthamstow, London, with planning consent for over 300 flats.
- In March 2013, LGC acquired a 47.75% stake in CALA Homes, alongside Patron Capital, one of the UK’s top 10 biggest housebuilders by revenue.