Legal & General Modular Homes (LGMH) along with Bristol City Council have today launched a new housing development which will provide 185 much-needed sustainable homes at its award- winning site in North Bristol.
26 Oct 2022
The homes have been designed for maximum energy efficiency: they will be EPC A-rated and 62% cheaper to run. The Bonnington scheme is also the first of Legal & General Modular Homes’ developments to offer Net Zero Regulated Carbon homes which will be 73% cheaper to run than a standard new build home. This means Bristol residents at this scheme could save up to £1788 a year in energy bills.
Every new modular home will include solar panels, helping to reduce future residents’ carbon footprint and fuel bills, and air source heat pumps, a low maintenance and more environmentally friendly alternative to gas boilers, which will minimise energy consumption and reduce carbon emissions. The modules used to construct the homes were precision-manufactured at LGMH’s factory in Selby, resulting in exceptional levels of thermal efficiency. This off-site construction means the homes have been built more cleanly, quickly, and with less waste compared to traditional building methods.
Residents will also enjoy improvements to cycle paths, by-ways and walking routes, neighbourhood family play areas, and a wealth of public transport options. Comprising both houses and apartments, 51% will be affordable homes - a mixture of social rent and shared ownership with the remainder being available for purchase. 93 of the homes will be delivered in partnership with GreenSquareAccord, one of the biggest social housing and care providers in England. Of those 93 homes, 55 are earmarked for social rent and another 38 for shared ownership.
The development has been designed to increase the variety of plant and animal life previously found on the site, achieving a 4% positive biodiversity net-gain. New trees are being planted as part of the development and the existing wildlife corridor, community orchard, and Site of National Conservation Interest (SNCI) along the western boundary are protected and enhanced to create new habitats and increase biodiversity.
Legal & General Modular Homes now has a growing pipeline of 1200 homes, with sites in Selby, North Horsham, Warminster, two sites in Kent: Littlestone and Broadstairs, as well as this scheme in Bristol.
The Bonnington Walk scheme has been brought forward in collaboration with Bristol City Council as part of the Bristol Housing Festival and was consulted on widely with the local community. It represents an important new development in Bristol where Legal & General already has a significant interest through a £240m stake in the regeneration of Temple Quarter, a Build to Rent development and a major mixed-use scheme on Temple Island. Together with Bonnington Walk, these schemes provide a springboard for a long-term partnership with Bristol City Council, helping meet the Mayor’s ambition for the annual delivery of 2,000 new homes, including 1000 affordable homes by 2024. Bonnington has already been recognised by the Housing Design Awards, receiving the Masterplanning Award for Projects, and has been built to the ‘Building with Nature - excellent’ standard.
Legal & General Group CEO, Sir Nigel Wilson:
“Across the UK, we need a housebuilding revolution so that homes can be produced sustainably and at a speed which meets local needs. Modular construction is that revolution: helping to accelerate the creation and delivery of high-quality, affordable, energy-efficient housing. Featuring our first net-zero regulated carbon homes to be delivered, this modular neighbourhood in Bonnington is an exemplar of the future of housebuilding – supporting Bristol residents to save thousands of pounds a year in energy bills, whilst making a positive impact on both housing creation and the transition towards a low-carbon economy.”
Mayor of Bristol, Marvin Rees: "We face the double issue of needing to build affordable housing for people in the city, while also doing what we can to tackle the climate emergency. For this reason, I am delighted to visit this new development, which combines affordability with sustainability. And with the current cost of living crisis, it is vital to be building houses that are cheaper to heat and saving people money on their energy bills.
The development will also include the planting of new trees and enhancements to the local conservation area, making sure that nature does not suffer in order for new homes to be built.
We helped to bring this scheme forward, and we made sure the local community were consulted as part of the development process. Lockleaze is undergoing a real transformation at the moment, and our Local Lettings Policy will make sure these new houses are benefitting local people."
Rosie Toogood, CEO of Legal & General Modular Homes: "I am delighted with what we and Bristol City Council have achieved here at Bonnington: these are homes of the future. Our partnership has delivered energy-efficient homes that will make customers feel safe, comfortable, and proud of where they live. The ongoing cost-of-living and energy crises remind us of the role we play in revolutionising the housing industry using 21st century technologies to provide some of the most energy efficient homes available on the market ensuring our customers don’t need to worry about their energy bills."
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.
*at 31 Jun 2021
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.2 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 2022