Press release

Legal & General acquires Steel Vulcan House, in Sheffield for £50m

LGIM Real Assets (Legal & General) announces that it has acquired Steel Vulcan House, a 120,000 sq ft modern office building in the centre of Sheffield for approximately £50 million.

16 Jul 2018

LGIM Real Assets (Legal & General) announces that it has acquired Steel Vulcan House, a 120,000 sq ft modern office building in the centre of Sheffield for approximately £50 million from Trinova Real Estate.

Acquired on behalf of Legal & General’s Annuity Fund, the office will be refurbished to create a high-quality and smart office building and is let in its entirety to a government department.

Legal & General was advised by Lewis Ellis and Clifford Chance. Cushman & Wakefield acted for the occupier, a government department.

Tom Roberts, Head of Strategic Investment at LGIM Real Assets:
"This is a great deal for the Fund, offering a secure long term income stream as well as satisfying our objective of increasing our exposure to public sector let investments."

Sam Resouly, Partner at Trinova Real Estate:
"We are delighted to have completed this transaction and enjoyed working with all parties to achieve this outcome. This is the first full life-cycle investment concluded on behalf of the Morood Investment Company and we are pleased that all parties achieved their goals."

Further information

Faye Bennett

Head of Housing PR

Private Markets, Asset Management

Email Faye Bennett

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 HY24) 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.

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