Legal & General Homes launches

Legal & General Homes launches

L&G has announced the launch of Legal & General Homes, a modular housing business, which aims to provide pre-fabricated houses to thousands of families through a new factory in the North of England.

Legal & General Homes has signed a long-term lease with Logicor on a 550,000 sq ft warehouse 15 miles east of Leeds, representing the largest modular homes construction factory in the world, according to L&G.

Initially employing 400 to 500 local people, it expects to deliver its first houses from the factory in June.

The homes will range from 20-storey apartment blocks to rows of terraced, semi-detached and detached houses.

The group says that the technology has "been proven right" across Europe, including countries such as Austria, Germany and Scandinavia where off-site manufacturing of housing is increasingly common place. Time spent building on site is expected to reduce by more than 70%, compared to traditional techniques, manufacturing sections in advance and delivering them to the site to be installed.

L&G recently announced the launch of a Build to Rent partnership with PGGM, through which it will invest £600m into building purpose built private rental housing across the UK, providing over 3,000 homes.


Tom Ground, Chief Executive of Legal & General Homes, commented: ”Legal & General Homes aims to deliver a new solution to the problems we face in the UK, addressing the shortage of suitable, affordable and sustainable housing by manufacturing higher quality, energy efficient, lower cost housing.”

Paul Stanworth, Managing Director of Legal & General Capital, said: “Sustainable, durable modern materials and proven technology will enable us to create high-quality homes meeting a wide range of housing needs and help solve the UK’s housing crisis. Modern modular housing in the UK has so far been restricted to the top end of the market: the scale of our Sherburn facility will enable many more people to benefit from new, environmentally-friendly construction techniques which have already become mainstream in Europe.”

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Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

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maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

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maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

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zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

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Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

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Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

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RyanGeo
RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

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sean benton
sean benton 01 Sep 2017

Identity theft is a thread for any profession. So,people should stay alarmed. I once take help from a letting agent and came to know that letting agents are taking every precaution to prevent fraudulent...

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Mark N.
Mark N. 30 Aug 2017

We have seen a surge in instructions over August and that should continue into September too.

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Chris
Chris 30 Aug 2017

Unfortunately, all the legislation bears its force on Landlords and ignores, naively, the effect of Rogue Tenants on the ability of landlords to keep houses in repair and offer properties for rent at reasonable...

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Christian Donovan
Christian Donovan 18 Aug 2017

The write-down on house values, combined with the fall in the GBP saddled the fund?s property portfolio with a 1.4% loss in the second quarter. The shocking amount of $240 million.

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Samantha Goodman
Samantha Goodman 11 Aug 2017

Interesting point of view.

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