Legal & General Capital (Legal & General) announces that it has made some key hires for its housebuilding arm, Legal & General Homes. As it continues to expand within the house building sector, Legal & General Homes is dedicated to becoming the residential developer of choice in the UK.
15 Jun 2018
Legal & General is committed to delivering much needed quality homes, establishing housing capabilities across all tenures, as it works to address the chronic shortfall of housing in the UK, with ambitions to deliver over 80,000 properties over the next five to ten years. With three sites across Berkshire and Oxfordshire, Legal & General Homes now has a pipeline of over 3,000 new units.
Chris Sly (pictured) has been appointed as the new Finance Director joining from FTSE100 property developer, Berkeley Homes where he held the position of, Head of Finance for the Western division. A Chartered Accountant, Chris was heavily involved in demerging the business from St James Group and spearheaded growth from £25m to £124m turnover. Prior to joining Berkeley Homes, Chris was Senior Finance Manager at BT Openreach, Commercial Finance Manager at E.ON and was also Finance Director of two SME’s. Chris also spent six years as Non-Executive Director of Bromsgrove Housing Initiatives Limited, a public sector housing association.
Legal & General Homes has also appointed Matthew Stubblefield as the new Health and Safety Officer. Stubblefield has 16 years’ experience in construction health and safety management and joins from Croudace Homes Group, where he was Group Head of Health and Safety.
Legal & General in Housing
A natural evolution and fit for its multi-tenure housing investment strategy, Legal & General has been involved in supply side housing activities for nearly 20 years. These include:
It is also a significant investor in student accommodation, having invested £1.5bn to date in this sector. This holistic approach provides Legal & General with the mechanisms to deliver high quality returns throughout market cycles by pivoting investment to where the need is greatest. A further example would be Legal & General’s £40million investment in Thames Valley Housing Association which focused on providing high quality key worker accommodation for Imperial College NHS Trust and St George’s Healthcare NHS Trust.
James Lidgate, CEO of Legal & General Homes, commented: “As well as addressing the chronic shortfall of housing in the UK, Legal & General Homes is looking to regenerate the UK’s landscape for the better and build vibrant communities where people want to live. Using Legal & General’s long term capital, we are seeking to create a legacy that we are proud of. To do this, we are putting together a capable and experienced team. Both Chris and Matthew are excellent additions to the company and join at an exciting time for Legal & General Homes as we build thousands of new homes and our schemes come to life across Berkshire and Oxfordshire.”
Notes to editors
Legal & General Capital (LGC) is Legal & General Group’s alternative asset platform, creating assets for Legal & General Retirement and third-party clients in order to achieve improved risk-adjusted returns for our shareholders. LGC has built its capabilities in a range of alternative sectors, including in residential property; specialist commercial real estate; clean energy; alternative credit; and venture capital, which are all supported by long-term structural growth drivers, meet a financing gap and respond to a scarcity of supply that is underpinned by enduring societal needs.
Its purpose is to invest society’s capital for society’s benefit. Investing in the real economy and supporting the Group’s focus on climate and inclusive capitalism, LGC’s investments create jobs, change lives and contribute towards a net zero carbon future.
Legal & General has invested over £29bn in levelling-up regional economies, including through major UK-wide regeneration schemes and has recently made a commitment to enable all its new homes to operate at net zero carbon emissions from 2030.
(As of June 2021)
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