Our schemes are funded using Legal & General’s £8bn Principal Balance Sheet, through Legal & General Capital (LGC), and by bringing in funding from other parts of our Group. Investing from the Group’s balance sheet gives us the flexibility to look beyond the size, volume and tenure requirements that limit many other institutional funds. Legal & General is involved in regeneration projects in cities such as Cardiff, Leeds, Bracknell, Newcastle and Salford, developing commercial, residential, leisure and infrastructure projects and creating thousands of jobs. 

As investor and developer, Legal & General has delivered a new town centre in Bracknell with Bracknell Forest Council and Schroders, and is currently on site in Crowthorne, creating a 1,000 home community, a new primary school and public facilities. In Newcastle, we have formed a partnership with Newcastle City Council and Newcastle University, with Legal & General providing funding and development expertise. Legal & General has worked with a number of developer partners – both national and regional such as English Cities Fund (national) – Muse, Media City, Salford - Peel Developments, Central Square, Cardiff - Rightacres, Bruntwood SciTech (national) – Bruntwood and Thorpe Park, Leeds – Scarborough.

Our projects

Newcastle Helix

In December 2016, L&G announced a partnership with Newcastle City Council and Newcastle University to deliver Newcastle Helix, one of the largest urban regeneration projects of its kind in the UK. 

The 24-acre science, technology and creative innovation community on a former iconic brewery site, is located in Newcastle’s city centre and is set to create over 4,000 jobs, 500,000 sq. ft. of office space, and up to 700 new homes.

 

 

Bruntwood Scitech

In September 2018, Legal & General announced a partnership with Bruntwood Limited, a leading owner, developer and operator of commercial real estate assets across the North West and Midlands. The landmark partnership has been formed to create the largest property platform dedicated to driving science and technology growth in regional cities.

The deal represents the largest investment made in science and technology assets in Europe in 2018 and ignites a business plan that will see the partnership’s assets grow from 1.3m sq. ft. on day one to over 6.2m sq. ft. over the next 10 years, increasing the value to £1.8bn and supporting the creation of 20,000 high value jobs.

 

Cardiff Central Square

In September 2015, Legal & General entered into a joint venture partnership with Rightacres (a local developer) and Cardiff Council to bring forward Cardiff Central Square, a prime regeneration site in the heart of the city. Together, the public-private alliance has enabled this scheme to take place which will deliver real UK growth and help transform Cardiff city centre.

The redevelopment is part of a five-phase masterplan which will provide approximately 1.4m sq. ft. of prime mixed use accommodation, including a new headquarters for BBC Wales, and a gross development value of over £450m. In August 2017, we completed the largest ever office leasing deal in Wales with the UK Government for a new Government hub. With 750,000 sq. ft. of space either completed or underdevelopment, the scheme is set to create over 10,000 local jobs and facilitate significant economic growth.

This city gateway regeneration project also focuses on delivering major social and economic benefits for the public and private sectors working together in order to unlock UK growth.