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Legal & General's London Investments Top £1 Billion

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Figures show that Legal & General have backed investments of over £1 billion in east London housing and infrastructure in 2016 alone and is on track to invest a total of £15 billion across the UK in areas such as infrastructure, housing and urban regeneration.

Legal & General's current investments in east London include the forward funding of 445 rooms for Queen Mary University of London students, located in Stratford at a cost of £63m.

Other investments include Transport for London's new £246m headquarters, flats in Walthamstow, DP World's London Gateway port and Amazon's new fulfilment centre in Tilbury.

Managing Director of Legal & General Retirement, Kerrigan Procter said: "East London is a great place to invest. We have invested over £1 billion of long-term capital in new assets, and are looking at many more opportunities here and across the UK."

Mr Procter continued saying: "In a world where over $10 trillion of government bonds earn negative returns, our direct investments create local economic growth, income for pensioners and returns for shareholders. The UK needs new infrastructure if it's going to grow and prosper in the 21st century, and we are helping to fund and deliver it."

The 26-storey student accommodation scheme located in Stratford is pre-let to Queen Mary University of London and is being built on the site of a former petrol station located on the high street.