Legal & General commits £100m to Sunderland regeneration, supporting 3,000 new jobs
Legal & General announces that is has committed £100m to back Sunderland City Council’s extensive masterplan for the regeneration of the former Vaux Brewery site. Proposed as a new core business district, Legal & General’s investment, which forms part of the wider ‘Riverside Sunderland’ project, is supporting the creation of up to 3,000 new jobs.
Sunderland is home to over 5,500 businesses, including 80 internationally owned corporations, employing more than 100,000 people. Despite this, there has been a lack of development of Grade A office space and good quality stock within the city centre has been limited. Sunderland, therefore, is a key target for Legal & General as it looks to support the transformation of a city which has seen significant underinvestment for the past twenty years.