Legal & General brings forward UK’s first net-zero carbon retirement community* through Inspired Villages

• Millfield Green will utilise a number of renewable energy sources, including using ground-source heat pumps from Kensa Group; a business which Legal & General took a significant stake in in 2020
• Many over 65s struggle to pay their energy bills each winter.  The new net-zero carbon (regulated energy) development will have a positive long-term impact on running costs, which will be unaffected by external suppliers future cost rises

The announcement follows Legal & General’s 2020 commitment to make all its residential accommodation operationally net-zero from 2030.  Legal & General Capital is the Group’s alternative assets platform, investing shareholder capital for the benefit of society, to address environmental challenges and support inclusive economic growth to build a better future.   In addition to its climate commitments across its six residential housing businesses, Legal & General also invests in clean energy assets, businesses and technologies to help accelerate progress to achieve climate targets including, wind, solar and electric transportation.

The new net-zero retirement community, Millfield Green, is located in Caddington, central Bedfordshire, and will bring forward 200 specialist age-appropriate homes over four phases, with a Gross Development Value of £120m. Construction will be carried out by Willmott Dixon. Millfield Green will use renewable energy generation through on-site photovoltaics, EV-charging, improved building fabric and insultation, Mechanical Heat Vent Recovery units and ground-source heat pumps through Kensa Group; a business Legal & General took a significant stake in last year.

Alongside its environmental benefits, Millfield Green will address the chronic under-supply of age-appropriate housing across the UK, with only 7,000 being built each year. Due to age-appropriate design, wellness facilities and services which enable quality of life, studies have shown that living in a retirement community leads to a 46% decrease in the number of planned GP visits and residents experience a 31% decrease in planned hospital admissions. To support an increase in health span and ageing wellness, when complete, Millfield Green will benefit from a restaurant, café, wellness centre (including a swimming pool, fitness studio and gym), library and cinema room. In keeping with Inspired Villages’ ethos of creating communities in and around its villages, many of these facilities will be available to both residents and the local community.

According to U-Switch research, many over 65s struggle to pay their energy bills in winter, with 40% saying they can only afford their bills if they make spending cutbacks in other areas. For future Millfield Green residents, the net-zero approach will have a positive long-term impact on running costs, which will be unaffected by external suppliers future energy cost rises.

The delivery of Legal & General’s first net zero community is testament to the company’s long-term vision for housing in the UK, where it has begun piloting energy-saving initiatives through design and operation.  Legal & General Modular Homes’ portfolio already meets the government’s EPC ‘A’ rating as standard (only around 1% of new and existing dwellings in England & Wales currently meet this rating), whilst across Inspired Villages’ wider portfolio, 10% of parking spaces are reserved for electric vehicle charging.

Inspired Villages, established by Legal & General in 2017, is operating retirement communities that enable their residents to live healthier, happier, safer, and more independent and active lives.  Seeing significant growth since its foundation, Inspired Villages currently operates six later living communities across the UK and is set to add to the portfolio with a further 2,500 homes over the next six years. Its seventh village, Ledian Gardens in Kent is set to open in 2021.