Bristol City Council secures £350m investment from Legal & General for Bristol Temple Island Regeneration
Legal & General announces that it has agreed terms with Bristol City Council to invest £350m into Bristol Temple Island, transforming the disused site into a vibrant new urban quarter. With a focus on social inclusion through affordable housing, training and employment opportunities, Temple Island will support the city’s plans to build back better and back the creation of 2,000 new jobs.
Using the UK’s pensions and savings to drive economic growth in the region - post-COVID - Temple Island will complement the wider “Temple Quarter” partnership, which includes Bristol City Council, the University of Bristol and Network Rail. Legal & General is already a significant investor in Bristol, having committed £310m to nearby Build to Rent and modular housing schemes, alongside commercial real estate, such as a Civil Service hub and the Quayside Bristol office development.
Legal & General’s new development will bring forward a resilient city centre offer in the face of current structural changes in working, retailing and leisure. The Temple Island scheme will enable the growth and innovation stemming from the University’s neighbouring new Innovation Campus by providing incubator space, affordable housing and new employment opportunities for the local knowledge economy.