Legal & General announces that it has appointed James Robson as Residential Development Manager, growing its dedicated Build to Rent (BTR) team to eight
23 Oct 2017
Legal & General announces that it has appointed James Robson as Residential Development Manager, growing its dedicated Build to Rent (BTR) team to eight strong in order to support its ambitions to have 6,000 units in planning, development or operation by the end of 2019.
Legal & General’s current pipeline of BTR units is over 1,700 following its latest acquisition in Birmingham, which represents the sixth UK city to which it will bring its new rental offer.
James has a wealth of experience in the BTR and Residential sectors. He joins from CNM Estates where he was a Director responsible for land buying, planning application management, financing and development. Reporting to Dan Batterton, Legal & General’s BTR Fund Manager, James will be responsible for sourcing and managing attractive land and development funding opportunities across the UK’s major cities that are suited to its long-term BTR investment model.
Dan Batterton, BTR Fund Manager at LGIM Real Assets, said: “We have assembled a strong and professionally diverse team, to which James is an excellent addition. Our teams varied backgrounds and expertise has enabled us to be at the forefront of this evolving sector, ensuring that we are well positioned to lead the way in delivering the best BTR products for our residents.”
Legal & General’s current BTR pipeline is over 1,700 homes with the aim to have 6,000 in planning, development or operation by the end of 2019. Legal & General has raised pension fund capital for an open-ended BTR fund as well as a £600m joint venture between Legal & General Capital and PGGM, meaning it already has significant investment firepower. Through the creation of a BTR asset class, it is looking to use its sources of long term capital to help address the chronic long term lack of supply of housing and meet the increasing demand for affordable, quality rental accommodation. Its existing sites in Leeds, Bristol, Bath, Walthamstow and most recently Birmingham are progressing well and its scheme in Salford has been home to residents since June.
Notes to editors
Legal & General Investment Management Real Assets (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 £1.28tn in assets (as at 31 December 2020), 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 £36.3bn (as at 31 December 2020) 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. In 2021, we are implementing a strategy as part of our commitment to net zero carbon emissions across the real estate equity business by 2050, and have also committed to measuring social value across 20% of our platform by the end of the year.
(As of June 2021)
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Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.4 trillion in total assets under management* of which a third is international. We also provide powerful asset origination capabilities. Together, these underpin our leading retirement and protection solutions: we are a leading international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Through inclusive capitalism, we aim to build a better society by investing in long-term assets that benefit everyone.
*at 31 Dec 2021