Legal & General acquire site in Bedfordshire for £120m retirement community
Legal & General announces that its later living business, Inspired Villages, has acquired a 12-acre site in Caddington, Bedfordshire. The site has been acquired with outline planning permission to develop 200 specialist age-appropriate homes, delivering much needed housing stock to meet local demand and is expected to have a gross development value of £120 million on completion.
Playing an important role in a post-crisis economic bounce back, this new scheme will see £90 million invested into the local economy, creating more than 70 construction jobs per annum over its six-year build period, and 32 permanent jobs once complete.
The Caddington site acquisition brings Inspired Villages development pipeline to 2,500 homes across the UK in the next six years. Together, these schemes will create around 1,000 construction jobs per annum, and up to 640 permanent jobs once the retirement communities are complete and operational.