Tackling the housing crisis and raising standards for all
Legal & General has one of the largest and most diverse residential platforms
Legal & General Capital (LGC) is a leading direct investor, developer, and operator in residential property. We have a conviction to entering new markets and are actively expanding internationally. We have successfully scaled up multiple operating businesses providing homes for all demographics, ages, and tenures.
We build houses to sell and rent, provide lively retirement communities and are finding new ways to deliver affordable housing.
We are a first-mover in nascent housing markets through use of balance sheet capital and in aligned capital partnerships.
Our approach
Through the wider Legal & General Group, together we employ the UK’s largest team of housing surveyors; support customers by providing housing insurance products; and operate the UK's largest and longest-running mortgage club, Legal & General Mortgage Club, which is involved in around one in five of all mortgages in the UK. Across Legal & General Group we benefit from further expertise in real estate investment across a range of sectors. As part of this we have invested over £30bn in levelling-up regional economies, including through major UK-wide regeneration schemes.
We take a socially orientated investment approach, with a commitment to delivering the housing that our society needs to address structural shortages across every dimension of the market. Beyond simply a commitment of ‘doing the right thing’ we both believe in it and do it, having the capital and ability to invest where we see genuine need over the long term. As a result we have delivered over 16,000 homes in the last three years, filling the gaps in the housing market where we have seen structural under-investment.
Sustainability
We are tackling the housing crisis over the long-term and we care passionately about how we do it: delivering first class developments and customer service is at the heart of what we do. As a sustainable and responsible investor, we have made a commitment to enable all our new homes to operate at net zero carbon emissions from 2030.
As part of this, we have the advantage of linking up with Legal & General’s wider partner network to enable this transition.
Housing is a major contributor to carbon emissions so requires some of the most radical and immediate overhauls of any industry.
In 2020 we developed a framework to measure the embodied carbon within our housing construction activities, which we are rolling out in 2021, and made the public commitment to enable all new homes we build to operate with net zero carbon by 2030.
Net zero carbon will be achieved on all new Legal & General homes through a combination of improved thermal building fabric and the use of environmental control systems, including low and zero-carbon technologies.
The UK’s first net-zero carbon retirement community
Through our partner Inspired Villages, we began construction of the UK’s first net-zero retirement community. Millfield Green, located in Caddington, central Bedfordshire, will bring forward 200 specialist age-appropriate homes with a Gross Development Value of £120m.
Our housing platform
Build-to-sell
Legal & General Affordable Homes
Legal & General Affordable Homes is building a combination of shared ownership and both social and affordable rented homes across the UK, to overcome the critical deficit in affordable housing by providing patient capital into the sector. It is pioneering institutional investment into the UK’s affordable housing sector, whilst providing excellent service and quality homes.
Cala Group
Cala Group is a major UK homebuilder, comprising Cala Homes and sister company Legal & General Homes, and is focused on building well-designed, high-quality homes in prime locations throughout the South of England, the Midlands and Scotland.
Build-to-rent
Suburban
The Suburban Build to Rent (SBTR) business launched in November 2020 to develop large-scale ‘single family’ rental communities in suburban locations across the UK. SBTR will partner with housebuilders to bring forward large-scale sites, as well as undertaking a direct delivery programme to deliver 1,000 homes each year by 2024. The SBTR housing schemes will be community focused and service-led, offering residents choice, security of tenure and flexibility − a level of offering widely unavailable in the wider residential market.
Urban
Legal & General’s Build to Rent (BTR) urban platform launched in 2015 and now has seventeen schemes in operation or development across the UK, delivering 6,000 homes for elective renters.
Later Living
Inspired Villages
Inspired Villages was established by Legal & General in 2017 and is operating retirement communities that enable their residents to live healthier, happier, safer, and more independent and active lives. Seeing significant growth since its foundation, Inspired Villages currently operates six later living communities across the UK.
Media
Tackling the housing and climate challenges: Legal & General Affordable Homes’ Social Impact revealed
Legal & General’s Suburban Build-to-Rent business signs £150m Loan to deliver next generation of healthy homes
Delivering a step change in affordable housing supply
Get in touch
To find out more or speak to one of our team, get in touch.
Disclaimer
This video may contain certain forward-looking statements relating to Legal & General, its plans and its current goals and expectations relating to future financial condition, performance and results. By their nature, forward-looking statements involve uncertainty because they relate to future events and circumstances which are beyond Legal & General’s control, including, among others, UK domestic and global economic and business conditions, market related risks such as fluctuations in interest rates and exchange rates, the policies and actions of regulatory and Governmental authorities, the impact of competition, the timing impact of these events and other uncertainties of future acquisitions or combinations within relevant industries.
As a result, Legal & General’s actual future condition, performance and results may differ materially from the plans, goals and expectations set out in these forward-looking statements and persons reading this document should not place reliance on forward-looking statements. These forward-looking statements are made only as at the date on which such statements are made and Legal & General Group Plc. does not undertake to update forward looking statements contained in this video or any other forward-looking statement it may make.