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Legal & General Fund Two New Lincoln Blocks

Posted by Ross Jones-Morris in

Image courtesy of Flickr, Creative Commons

Legal & General Investment Management's real asset division has announced that it is putting £25.6 million into the development of two student accommodation blocks in Lincoln.

Once built, the development will consist of 301-ensuite rooms across two blocks, with the developer, EBW Developments tasked with delivering the project by Q4-2019.

Legal & General has also added that the blocks are pre-let to the University of Lincoln for 21 years.

A senior fund manager at Legal & General, Derek Gilby, said of their development, "We believe that quality facilities help to provide a quality education."

"This is an excellent buy for the fund, offering a secure long-term income stream from an investment grade University as well as satisfying our objective of continuing to secure public sector tenants for the fund."