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L&G reveals second phase of retail reinvention strategy, launching GATHER, STREET MARKET and PUBLIC programmes at four major shopping centres
Legal & General Investment Management Real Assets (LGIMRA) has launched the second phase of its strategy to reinvent and reframe its retail places, revealing three new initiatives to create places and experiences that go beyond traditional retail.
5 Nov 2021
LGIMRA has created independent trader markets, a new events programme and exceptional new public realm spaces at The Dolphin Poole, The Grosvenor Northampton, The Overgate Dundee, and The Beacon Eastbourne.
GATHER will curate more than 3,000 live performances and programmed events a year delivered by a plethora of local hosts. The community events and activities will include music and dance performances, yoga, boxercise, kids care, music schools, book clubs and much more all curated in-house by newly appointed Community Curators.
STREET MARKET features an extensive selection of carefully selected local makers, merchants and foodies, working with content providers to deliver the freshest ideas across LGIMRA’s spaces. PUBLIC moves the dial on public realm, stitching all the offer together and acting as an anchor to bring people to play, work and meet in the heart of the community.
The new experiences follow LGIMRA launching a brand new high street, KINGLAND, dedicated to the best local independents and SMEs in Poole in April 2021. The businesses were given a shop with no rent and no business rates for the first two years to develop space for a creative community to flourish, injecting a new identity and vibrancy into the town centre. The carefully curated and diverse line up includes a fishmonger, coffee roaster, design studio, surfboard shop, zero waste grocery store, art gallery, gin bar and store, home interiors specialist, restored second-hand furniture shop and perfumer.
Due to changes in consumer trends and expectations, LGIMRA believes that retail environments must be reimagined and recurated to remain relevant. To respond to the ‘cultural shift’, LGIM Real Assets has totally rethought its approach to retail investment and offering, refocusing the value on treating the occupier as a partner and the end consumer as an L&G customer – a strategy that was in motion long before Covid.
Bill Hughes, Head of Real Assets for LGIM: “The second reimagining phase is a further strand in our wider strategy to reframe and reposition our retail offering. It further enhances the shopping experiences in these initial four towns and cities and delivers dynamic, multi-faceted and future ready experiences.We are diversifying our occupier base to create truly relevant retail places for our partners, driving value for our investors and delivering better experiences for our customers.”
Denz Ibrahim, Head of Retail & Futuring for LGIM Real Assets: “GATHER, MARKET and PUBLIC bring a refreshing new perspective on what shopping centres can and should provide for their communities. This is a continuation of our making incredible, future ready places for people to spend time in. The new additions enable us to turn a quick trip to the shops into a totally unique experience.“Through supporting localism and regeneration, we are helping the economic recovery and bringing significant positive social and economic impact to the local economy.”
For further information
Jessye Brandon
Senior PR Executive
LGIM Real Assets
T: 07584498775
Notes to editors
Established in 1836, Legal & General is one of the UK’s leading financial services groups and a major global investor, with £1.2 trillion in total assets under management (as at FY23) of which c40% (circa £0.5 trillion) is international.
We have a highly synergistic business model, which continues to drive strong returns. We are a leading international player in Institutional Retirement, in Retail Savings and Protection, and in both public and private markets through our Asset Management division. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and investment needs of customers and society.
As at 7 June 2024, we estimate the Group’s Solvency II coverage ratio to be 224%.
As at 11 June 2024, Legal & General has a market capitalisation of £14.6 billion.
LGIMRA is a division of Legal & General Investment Management (LGIM), one of Europe’s largest
institutional asset managers and a major global investor. LGIM manages £1.29 trillion1 ($1.57tn) in
assets, working with a range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors.
LGIM Real Assets has assets under management of £36 billion2 ($43.8bn) and is one of the largest
private markets investment managers in the UK. Investing in both debt and equity and across the
risk/return spectrum, LGIM Real Assets actively invests in and manages assets across commercial,
operational and residential property sectors, as well as infrastructure, real estate, corporate and
alternative debt.
Taking a long-term view in order to future proof our investments, LGIM Real Assets continues to lead the industry in ESG performance, considering all environmental, social and governance issues at asset level as well as portfolio level.
1LGIM internal data as at 30 June 2022. These figures include assets managed by LGIMA, an SEC Registered Investment Advisor. Data includes derivative positions.
2Source: LGIM Real Assets. AUM data as at 30 June 2022.
*at 13 Jan 2023
IMPORTANT INFORMATION
For professional clients only. Past performance is not a guide to the future. The value of an investment and any income taken from it is not guaranteed and can go down as well as up, you may not get back the amount you originally invested. Views expressed are of LGIM as at 12 January 2023. The Information in this document (a) is for information purposes only and we are not soliciting any action based on it, and (b) is not a recommendation to buy or sell securities or pursue a particular investment strategy; and (c) is not investment, legal, regulatory or tax advice. Legal & General Investment Management Limited. Registered in England and Wales No. 02091894. Registered Office: One Coleman Street, London, EC2R 5AA. Authorised and regulated by the Financial Conduct Authority, No. 119272.