Legal & General confirms £750m affordable homes investment with new appointment

Legal & General Affordable Homes (LGAH) has confirmed its commitment to invest £750 million to new affordable housing projects throughout the UK - increasing its development pipeline to nearly 3,500 homes across 41 projects.

Continuing its aim to become the UK’s leading Institutional Registered Provider (IRP), LGAH has grown from five to fifty five employees in the last year.

It’s latest appointment, Anette Simpson, has joined the business as director of developments and partnerships. Previously group planning director at CapCo, Simpson will lead and coordinate the direct delivery of Legal & General’s affordable housing schemes and oversee all aspects of development to legal completion.

Across its growing portfolio, Legal & General is delivering a mix of social and affordable rental homes, grant-supported shared ownership homes and Section 106 schemes; as sole ventures and in partnership with best-in-class housing associations.

Legal & General Affordable Homes also welcomed its first residents in October, at its Bickland Water Road scheme in Falmouth, Cornwall, managed by Coastline Housing.

Ben Denton, managing director, Legal & General Affordable Homes, said: “There is an urgent need to innovate new ways to provide stable homes for the millions of households on waiting lists. Legal & General remains committed to deploying institutional capital at scale into this sector, to deliver the volumes of social housing which society desperately needs.

“We have made a great start in executing our development programme, which now stands at nearly 3,500 homes all across the country.

“As part of our continued expansion, we have put together a capable and experienced leadership team. Anette Simpson is another key hire, helping us to drive forward our pioneering Institutional Registered Provider model. It was also a delight to welcome our first residents this month.”

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