Legal & General continue to invest for the long term, supporting the UK’s post crisis economic growth, jobs and housing. They have announced they’re investing £150m into Sheffield’s West Bar development – the first phase of this project. The mixed-use project is in partnership with Sheffield City Council and Developer Urbo – a joint venture between Urbo Regeneration and Peveril Securities (the development arm of Bowmer and Kirkland group).
The development will include 350 Build to Rent homes, landscaped public spaces and a multi-storey car park. There will be 200,000 sq ft of office space – delivering a large, modern space to accommodate 1,800 workers – which Sheffield currently lacks.
“This is a massively significant investment for Sheffield and is a vote of confidence in the future of the city as a whole, particularly during the current climate.”Peter Swallow, Managing Director, Urbo Regeneration
In Sheffield, Legal & General are committed to investing where they recognise the high potential that the city has to offer, and to support its post-crisis growth ambitions – to meet its need for regeneration, housing and to create more jobs. Legal & General are using multiple capital streams – from start-up funds to long term UK pension money – to reshape the urban landscape and provide the investment needed to change, adapt and innovate cities
“There has never been a more important time to invest in our regional cities. This is not new territory for L&G. Our investment partnerships within cities such as Cardiff and Newcastle are already delivering at pace. Likewise our vision for West Bar Square is to deliver a much-needed new quarter for the centre of Sheffield.
“During these unprecedented times, it is absolutely imperative that institutions continue to push forward with deals such as these, so we can position the UK for an accelerated recovery and lay the groundwork to support those most in need in society.”Nigel Wilson, CEO, Legal & General
Legal & General have invested billions of pounds into urban regeneration projects across the UK. It includes partnerships with Local Authorities in Cardiff, Salford, Newcastle and Sunderland, including central government bodies like Homes England and world leading universities.