Press

Latest press releases

Legal & General commits a further £200m to UK transport infrastructure

LGIM Real Assets (Legal & General) announces that it has provided, on behalf of its clients including Legal & General Retirement Institutional (LGRI), £200 million in long-term debt financing to support the purchase of new rolling stock for the Wales & Borders franchise by Equitix and SMBC.

Legal & General acquires first build to rent scheme in Scotland

Legal & General announces that it has exchanged contracts on its first Build To Rent (BTR) scheme in Scotland as it seeks to meet the increasing demand for affordable, quality rental accommodation across the UK. Legal & General will forward fund Drum Property Group to deliver 324 apartments within Glasgow’s new Buchanan Wharf waterside regeneration area, which will also house the new Northern European hub of Barclays Bank.

Legal & General acquires BTR site in Chelmsford

LGIM Real Assets (Legal & General) announces that it has exchanged contracts on a new Build To Rent (BTR) site in Chelmsford City Centre, on behalf of its UK Property Fund (“The Fund”).

Ground breaking ceremony held at new DWP hub in Treforest

Legal & General today announces the start of construction of the new DWP Hub in Treforest with a ground breaking ceremony attended by members of the development team and existing tenants.

Legal & General appoints head of infrastructure equity

LGIM Real Assets (LGIM RA) announces that it has hired Jonathan Ord, formerly Investment Director, at Local Pensions Partnership Investments (LPPI) to lead its infrastructure equity investment strategy.

Legal & General secures prime student blocks at University of Oxford

Legal & General announces that it has purchased the long leasehold of a modern student accommodation residence which has been fully let to Christ Church College, part of the University of Oxford, for approximately £37.1m. The purchase has been made on behalf of Legal & General Retirement.

Legal & General reaches major regeneration milestone in Eastbourne

LGIM Real Assets (Legal & General) announces that it has launched a new £85 million retail and leisure extension which forms part of Legal & General’s £220 million retail and leisure scheme, formerly known as the Eastbourne Arndale Centre.

Legal & General hires HSBC's Will Devenney

LGIM Real Assets (LGIM RA) is pleased to announce that it has hired Will Devenney, formerly Director, Infrastructure and Real Estate at HSBC to expand its Infrastructure Debt team as it continues to develop and diversify its real assets capabilities.

Legal & General completes financing on what is soon to be the largest wind farm in the world

LGIM Real Assets (“LGIM RA”) announces that it has provided, on behalf of its clients including Legal & General Retirement Institutional (LGRI), c.£370 million in long-term financing to support Global Infrastructure Partners (“GIP”) 50% acquisition of the Hornsea Project One offshore wind farm (“Hornsea” or “the Project”) from Orsted Wind Power (“Orsted”).

Legal & General secures student blocks at top Scottish university

LGIM Real Assets (Legal & General) announces on behalf of its LPI (Limited Price Inflation) Income Property Fund that it has agreed to fund the development of new high-quality student accommodation block which has been pre-let to a top Scottish University.

Legal & General receives planning for redevelopment of former Dragons' Den

Legal & General announces that it has received planning for the transformation of 47 Tanner Street, the former Dragons Den Warehouse, to be converted into a new office scheme.

Legal & General acquires eighth major government hub

Legal & General has agreed to forward fund the development of Unity Square in Nottingham as HM Revenue and Customs’ (HMRC) latest regional hub, helping to facilitate significant economic growth in the city and putting Nottingham back on the occupier map. The Development is being undertaken by Peveril Securities and its joint venture partner Sladen Estates.

Legal & General Capital invests in property tech supporting future cities

Legal & General Capital (Legal & General) announces that it has invested in WiredScore, a rapidly growing property technology company and global leader in digital connectivity certification for commercial property.

Legal & General provides long-term financing for the development of new homes

LGIM Real Assets (“LGIM RA”) announces that it has provided £50 million in long-term financing to support Raven Housing Trust (“Raven”) in the development of 1,100 new homes over the next five years. The financing has been provided on behalf of its clients, namely Legal & General Retirement Institutional (LGRI).

Legal & General snaps up South-East industrial estate for over £20million

LGIM Real Assets (Legal & General) announces that it has acquired Lineside Industrial Estate in Sussex for £21 million.

Legal & General hires GVA's Neil Dovey as Head of Annuity transactions

LGIM Real Assets (Legal & General) announces that it has appointed Neil Dovey as Head of Annuity Transactions, to lead on sourcing more strategic investment opportunities for its long income funds.

Legal & General leisure fund acquires Stafford leisure scheme

LGIM Real Assets (Legal & General) announces that it has acquired Waterfront Leisure scheme in Stafford, from developer LXB Retail Properties. The new scheme was purchased for £9.9m.

Double win for LGIM real assets at AREF awards

LGIM Real Assets has had a clean sweep for the Investment Performance awards at The Association of Real Estate (AREF) Annual Dinner and Awards 2018, which took place on Wednesday 26 September.

New report from Legal & General reveals the future of leisure today

A new report from LGIM Real Assets (“Legal & General”) makes the case for a fascinating future for the leisure sector, thanks to persistent consumer demand, a dynamic tenant base and technological innovation. The structural change in household spending habits, towards ‘experiences’ and away from physical possessions, has driven a major transformation in the market, which is expected to gather speed over coming years.

Legal & General purchase shopping centre and boosts revenue stream for council

Legal & General announces that it has purchased the Sovereign Shopping Centre in the centre of Weston-Super-Mare, in partnership with North Somerset Council.

Legal & General provides long-term financing to Northern Irish gas network

LGIM Real Assets (“LGIM RA”) is pleased to announce that it has invested, on behalf of its client Legal & General Retirement Institutional (LGRI), c.£200 million in West Transmission Financing plc, a subsidiary of Mutual Energy, to support the development of a new gas transmission pipeline in Northern Ireland.

Legal & General's Leisure Fund grows to over £600m following acquisition of Birmingham's Broadway Plaza

Legal & General announces that it has acquired Broadway Plaza in Birmingham, on behalf of its Leisure Fund from Aviva Investors, for £46.95 million, growing the Fund to over £600 million.

Legal & General's Industrial Property Investment Fund secures major letting to Clipper Logistics

Legal & General announces, on behalf of its Industrial Property Investment Fund (“IPIF”), that it has secured an agreement with leading UK logistics provider, Clipper Logistics, to let its new 196,268 sq ft purpose built distribution centre in Crick, Northamptonshire.

Legal & General acquires Steel Vulcan House, in Sheffield for £50m

LGIM Real Assets (Legal & General) announces that it has acquired Steel Vulcan House, a 120,000 sq ft modern office building in the centre of Sheffield for approximately £50 million.

Legal & General redesigns and acquires new Manchester tower for growing build to rent portfolio

Legal & General today announces that it has exchanged contracts on the West Tower in Manchester’s premier development, Deansgate Square, as it continues to scale up its Build To Rent (BTR) portfolio.

Legal & General acquires new Cheltenham trade park

LGIM Real Assets (Legal & General) announces that it has completed the acquisition of Kingsditch Trade Park, Cheltenham, for £20.5 million, reflecting a net initial yield of 5.3%. The asset has been bought on behalf of Legal & General’s Industrial Property Investment Fund (IPIF) from M&G Real Estate.

LGIM Real Assets private credit business closes first two Euro deals

LGIM Real Assets (Legal & General) is pleased to announce the completion of its second Euro deal this year, having invested, on behalf of its clients including Legal & General Retirement (LGR), c.£44 million, of which €30 million was Euro denominated, in TCR Group (“TCR”).

Legal & General sells prime London office scheme

LGIM Real Assets (Legal & General) today confirms the sale of prime London office scheme, Procession House. The 105,944sq ft office and retail site, which occupies a prominent island within the City of London, was sold on behalf of Legal & General’s Managed Property Fund (“the Fund”) to Goldman Sachs’ real estate principal investing group in a joint venture with Greycoat.

Legal & General acquires its largest build to rent site in Woolwich

Legal & General announces that it has exchanged contracts on its largest Build To Rent (BTR) site to date located in Woolwich. This scheme has been acquired by co-investors Legal & General Capital and PGGM, as well as pension fund capital raised by LGIM Real Assets through its open-ended BTR fund.

Legal & General acquires seventh major government hub in deal with Unibail-Rodamco-Westfield

Legal & General has agreed to forward fund the construction of a new office facility at 14 Westfield Avenue in Stratford, London, which has been pre-let to the Secretary of State for Communities and Local Government to establish a new HMRC regional centre in Stratford. The development is being undertaken by Unibail-Rodamco Westfield.

Legal & General provides staple financing for UK solar portfolio

LGIM Real Assets (Legal & General) is pleased to announce that it has provided a £48m senior financing to support Fiera Infrastructure Inc. (Fiera Infrastructure), a leading Canadian infrastructure investment management firm, on their investment into a fully operational Solar photovoltaic (PV) technology portfolio consisting of more than 13,250 residential and commercial rooftop systems.

Legal & General secures student blocks at University of Lincoln

LGIM Real Assets (Legal & General) announces that it has agreed to fund the development of two high-quality student accommodation blocks which have been pre-let to the University of Lincoln. EBW Developments is the developer on the scheme which is a joint venture between Bloc Ltd and Marcus Worthington Properties Ltd. The acquisition was made on behalf of Legal & General’s LPI (Limited Price Inflation) Income Property Fund for a total consideration of £25.6m.

Hub and Bridges agree £100m deal with Legal & General to kick-start Taberner house development

Residential developer HUB and specialist investor Bridges Fund Management have agreed a £100m deal with Legal & General to develop a 251-unit build to rent tower at the heart of the Taberner House development in Croydon, south London.

BBC take the keys to the door of new headquarters

Legal & General, in partnership with Rightacres Property Company, announces that it has officially handed over the new BBC Cymru Wales headquarters at Central Square, Cardiff to BBC Director General, Lord Hall.

Legal & General snaps up South East industrial estate for £180m

LGIM Real Assets (Legal & General) announces that it has acquired Woodside Industrial Estate in Dunstable from Harbert Management Corporation for a total consideration of £182.3M, representing a net initial yield of 5.02%.

Legal & General to deliver major Glasgow City Centre hotel development for Meininger Hotels

LGIM Real Assets (Legal & General) announces on behalf of its Linked Life Fund that it has signed an agreement to develop a new hotel in the heart of Glasgow city centre. The hotel has been pre-let to MEININGER Hotels on a 25 year lease.

£200m boost for regeneration as the English Cities Fund doubles in size

The English Cities Fund – a partnership between three of the UK’s leading regeneration and investment organisations (including Legal & General) – has announced that it will double its investment in cities and towns in England to £200m.

Leeds host first ever Northern Power-leg of Legal & General real assets cycle to MIPIM ride

Today Leeds played host to the start for the inaugural Northern Power-Leg stage of the Legal & General Real Assets Cycle to MIPIM ride. The additional two day ride makes this the largest Cycle to MIPIM ride yet, including a more varied cross-section of the real estate industry than ever before.

Legal & General completes financing on One and Two Southbank Place

LGIM Real Assets (Legal & General) announces that it has provided, on behalf of its clients including Legal & General Retirement Institutional (LGRI), £420 million in long-term financing to support Almacantar on the debt refinancing of One and Two Southbank place in London.

Development of Grade A office space at Atlantic Square, Glasgow to start in March for major UK Government hub

BAMTCP Atlantic Square, a joint venture between BAM Properties and TCP Developments, and LGIM Real Assets (Legal & General) have confirmed that work will begin in March 2018 on the development of circa 284,000 sq. ft. of Prime Grade A office space at Atlantic Square in Glasgow.

Legal & General's industrial property investment fund marks 20 years with move to an open-ended structure

LGIM Real Assets (Legal & General) announces that it has converted the life of its award-winning £2bn Industrial Property Investment Fund (“IPIF” / the “Fund”) from a closed-end, fixed life vehicle to an evergreen open-ended fund.

Legal & General set to deliver Brighton's first Build to Rent scheme

Legal & General announces that it has exchanged contracts to acquire land in the centre of Brighton in order to deliver the city’s first ever Build to Rent (BTR) development. This latest acquisition represents the seventh UK city to which it will bring its new rental offer.

Legal & General makes senior transactions hire as it seeks more long income deals to drive UK regeneration

LGIM Real Assets (“Legal & General”) announces that it has enhanced its transactions team with the appointment of Senior Transactions Manager, Yvonne Ambo, to source more investment opportunities for its long income funds.

Legal & General finances renewables sector with Dudgeon offshore wind farm

LGIM Real Assets (“LGIM RA”) announces that it has invested, on behalf of its clients including Legal & General Retirement Institutional (LGRI), in Dudgeon Offshore Wind Ltd, as it continues to invest in and commit to providing clean energy to the UK.

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