Dublin, January 3, 2019: NTR plc today announces that it has attracted commitments of €229 million for the NTR Renewable Energy Income Fund II, of which €145 million has been secured for the fund’s first close. The fund is targeting €500 million and will invest in both pre-construction and operational onshore wind and solar projects across a number of European markets, together with energy storage that is associated with the wind and solar projects owned by the fund.
Legal & General Modular Homes (Legal & General) announces that, having signing an agreement with external client Silva Homes, it has delivered its first precision-engineered modular homes to Legal & General Homes’ newest development Buckler’s Park in Crowthorne, near Bracknell.
Legal & General is pleased to announce that Paul Miller, Group Strategy and M&A Director will take up the new role of Managing Director, Principal Investing in Legal & General Capital (LGC).
Legal & General announces today that its subsidiary Legal & General Affordable Homes Limited, launched in April 2018, has been granted Registered Provider (RP) status.
Legal & General Capital is pleased to announce that its housebuilding arm, Legal & General Homes has won a prestigious award for its Buckler’s Park development in Crowthorne. Legal & General Capital is committed to using its patient capital to unlock and create economic, social and environmentally useful investments across the UK.
The UN Sustainable Development Goals - also known as the ‘Global Goals’ or ‘SDGs’ – are a plan to end poverty, extreme inequality, and climate change by 2030. Agreed in 2015 by world leaders, these goals can only be achieved with the support of businesses like Legal & General.
Legal & General Capital (Legal & General) announces that it has invested in WiredScore, a rapidly growing property technology company and global leader in digital connectivity certification for commercial property.
Her Majesty The Queen visited The Lexicon shopping centre in Bracknell to see how the town centre has been regenerated.
Legal & General and its joint venture partner Scarborough International Properties Limited (SIPL) announce that The Springs, the 350,000 sq ft retail and leisure destination at Thorpe Park Leeds has now officially opened to the public.
Bruntwood and Legal & General Capital (Legal & General) have established a landmark 50:50 partnership to create the UK’s largest property platform dedicated to driving science and technology growth in regional cities.
John Bromley; looking to the future
As a response to climate risk, air pollution policy change and the falling costs of power from wind and solar, the global energy system is decarbonising.
Legal & General announces that it has started construction of its flagship office building, The Lumen, at Newcastle Helix, as part of the initial £65 million it has invested in the site. This is the largest city centre office building, with private sector funding, to be constructed in the last decade.
Phil Bayliss, Head of Later Living at Legal & General Capital:
For many years, the later living sector has seen chronic underinvestment. Our latest report (published in May) identified that there are now 3.1million households, aged 55 and over, looking to downsize now or in the future. Nearly half of these, however, said there were no suitable properties available, further highlighting a staggering under supply of appropriate later living housing.
The UK housing market is at a crunch point. A generation of young people are locked out of the market - the first generation to be worse off than the one before them and unable to think about buying a property unless The Bank of Mum and Dad is on hand to help with their deposit and assist with mortgage payments. But for all the focus on our hard-pressed First Time Buyers, part of the challenge lies much further up the housing ladder – with what we have termed ‘Last Time Buyers’
The Bank of Mum and Dad (BoMaD) continues to be a prime mover in the UK housing market. This year, it will be the equivalent of a £5.7bn mortgage lender. It’s supporting more people than ever: 27% of all buyers will receive help from friends or family in 2018, up from 25% in 2017 – purchasing almost 317,000 homes.
Legal & General announces the launch of Legal & General Affordable Homes, a new wholly-owned affordable housing provider which it is establishing through a leading development and management platform.
Legal & General, in partnership with Rightacres Property Company, announces that it has officially handed over the new BBC Cymru Wales headquarters at Central Square, Cardiff to BBC Director General, Lord Hall.
Delivering inclusive capitalism
Sharing success with investors, customers and society
Legal & General Group announces today that its Legal & General Capital division has acquired the 52.1% of CALA Homes which it did not previously own. Transaction announcement and completion occurs simultaneously.
Legal & General Capital (“LGC” / “Legal & General”), the principal investment arm of Legal & General Group, announces that it has hired RBS’ former Group Treasurer, John Cummins, as the Managing Director of Urban Regeneration and Clean Energy.
The English Cities Fund – a partnership between three of the UK’s leading regeneration and investment organisations – has announced that it will double its investment in cities and towns in England to £200m.
In its full year results (to 31 Dec 2017), Legal & General Capital (LGC) announces that its Direct Investments portfolio increased by 28% to £1.45bn (2016: £1.137bn) and delivered an operating profit of £124m (2016: £121m).
In its full year results (to 31 Dec 2017), Legal & General Capital (LGC) announces that its Direct Investments portfolio increased by 28% to £1.45bn (2016: £1.137bn) and delivered an operating profit of £124m (2016: £121m). As part of this, in the housing sector LGC increased its assets under management to £588m (2016: £392m) as it continues to develop operating businesses to deliver its multi-tenure residential offering.
Upside, the British start-up, backed by Legal & General and SYSTEMIQ, announces government funding for three projects to better connect electric vehicles to the electricity grid.
Inspired Villages Group (“IVG”), an operator and developer of later living accommodation established by Legal & General in August 2017, announces the acquisition of Ledian Farm, Leeds Village in Kent, as it continues to deliver its ambitious growth plans to provide service-led later living communities across the UK to meet the needs of the most underserved housing sector.
Inspired Villages Group (“IVG”), an operator and developer of later living accommodation established by Legal & General in August 2017, announces its ambitious recruitment programme for 2018 making it the fastest growing company in the later living housing sector.
Legal & General Homes announces that it is holding a public exhibition for its 78-acre site in Shrivenham, Oxfordshire on Tuesday 20 February. The proposals aim to address the housing supply crisis by providing much-needed high quality market and affordable homes, from one-bed apartments to four-bed detached family homes.
Legal & General Capital (Legal & General) announces that works have started on the bridge for the new road over the railway line at Thorpe Park Leeds. Once complete this new infrastructure will unlock thousands of homes in East Leeds. Legal & General Capital is delivering the Thorpe Park Leeds regeneration scheme in a joint venture partnership with Scarborough International Properties.
Legal & General announces that it has exchanged contracts to acquire land in the centre of Brighton in order to deliver the city’s first ever Build to Rent (BTR) development. This latest acquisition represents the seventh UK city to which it will bring its new rental offer.
Legal & General (L&G) announces that it has hired Grainger’s Sebastian Balcombe, as it continues to invest in housing creation activities across the spectrum.
Legal & General Capital, the principal investment arm of Legal & General Group, and SYSTEMIQ, a purpose driven investment and advisory firm established in 2016 to tackle system failures, have co-led the Series A investment in Upside Energy (“Upside”).
Legal & General announces that it has acquired a 78-acre site in Shrivenham, Oxfordshire from a client of Welbeck Strategic Land. With outline planning for 515 new homes, it represents the third major site being brought forward by Legal & General’s housebuilding arm, Legal & General Homes, bringing its housing pipeline to over 3,000 new homes.
Legal & General announces that it has secured planning for its second Grade A office building at Newcastle Science Central, as it continues to transform cities and regions across the UK, boosting local jobs and driving economic growth.
James Lidgate, CEO of Legal & General Homes
Housing was THE big finish to the Autumn Budget, demonstrating the importance placed on the sector. The government wants to deliver 300,000 additional homes by mid-2020, announcing a number of carrots and sticks designed to encourage developers to build out more quickly and boost land release; a marked contrast to the usual demand-side measures which mainly serve to push prices up.
Phil Bayliss, Head of Later Living at Legal & General Capital:
The UK’s chronic housing crisis is well versed, but retirement housing is the single-most underserved sector within the UK’s residential market. Over 3m over 65s are looking to downsize but only 7,000 housing with care properties are being built each year while the UK suffers from spiralling health and social care spend. I believe the big bang moment to this sector is the long term, institutional money now entering the market which can be pivotal in addressing this social and economic issue.
Legal & General (L&G) announces that The Lexicon Bracknell has picked up two awards at the 2017 Revo Gold Awards. It scooped top prize in the Re:new category for projects that have positively impacted their surrounding environment and was also voted ‘Best of the Best’ across all categories, decided by a live poll of the thousand guests that attended the Revo Annual Dinner.
Legal & General Homes is the housebuilding arm of Legal & General Capital. John Allan, Managing Director of Legal & General Homes, explains what sets the business apart from other housebuilders.
We are a bit different from other housebuilders. Although we are borne out of one of the UK’s oldest companies, we plan to shake things up when it comes to delivering new homes. Our long-term capital and therefore investment approach means that we can prioritise quality and customer service above all; building fantastic homes which enhance the wellbeing of the community.
James Lidgate, CEO of Legal & General Homes, explains how we can create social value through our housebuilding activities.
The UK has a chronic need to deliver more housing at scale. This is keeping housebuilders busy as significant communities of new homes are cropping up all around the UK.
Legal & General announces that it has acquired a 272 acre site in Arborfield, Wokingham. Helping to address the UK’s chronic housing shortage, Legal & General will apply its unique multi-tenure approach in order to speed up housing delivery, reducing the time taken to deliver these homes by over five years.
Legal & General management changes:
Kerrigan Procter becomes CEO of LGC; Chris Knight and Laura Mason promoted to CEOs of LGR Retail and LGR Institutional
Legal & General Group Plc today announces senior management changes in its Legal & General Retirement (LGR) and Legal & General Capital (LGC) divisions.
Legal & General today announced that Paul Stanworth was stepping down as CEO of Legal & General Capital (LGC).
Paul joined Legal & General in 2009 with a long and successful track record in finance and institutional investment. Within Legal & General, he played a key role in the establishment and growth of its principal balance sheet businesses, Legal & General Retirement (LGR) and Legal & General Capital (LGC). He particularly took a lead in creating the successful direct investment programme through which the company makes long-term investments into the UK real economy.
Legal & General announces the acquisition of a later living business called Renaissance Villages (RV) for a net purchase price of around £51m from Helical Plc. The business will be integrated into Inspired Villages Group, a best in class operator and developer of later living accommodation, which Legal & General acquired in August this year.
Six more sought-after brands will be joining the enviable line-up of new retailers at The Lexicon Bracknell, the £240 million retail and leisure town centre destination in Berkshire. The new announcements follow an enormously successful seven weeks of trading since the scheme opened last month, with highly positive feedback about the new retail destination from both retailers and customers.
Legal & General Capital (“Legal & General”) announces that it has agreed the sale of Two Central Square, a Grade A office development in the centre of Cardiff to Credit Suisse Asset Management (“Credit Suisse”), for £56.5m, reflecting a net initial yield of 6.25%. The property is currently being developed by Rightacres. Legal & General will use the proceeds from the sale to reinvest into other similar real asset backed economic growth opportunities and remains committed to the regeneration of Cardiff city, continuing to fund the construction of this pivotal urban regeneration project through to completion of the build phase.
Legal & General has today announced that it has agreed the funding of a prime Birmingham Build To Rent (BTR) development site known as Newhall Square for a total sum of £53m. Representing the sixth UK city to which it will bring its new rental offer, this latest investment brings its total pipeline of BTR units to over 1,700.
SalaryFinance, the innovative financial wellbeing employee benefits firm, today announces it has completed a £40m funding round (subject to Financial Conduct Authority approval). The round was led by FTSE 100 financial services firm Legal & General with founding investor Blenheim Chalcot, the U.K.’s leading digital venture builder, also participating.
Legal & General launches its first Build-to-Rent scheme. Residents move into our first build-to-rent scheme: The Slate Yard in Salford.