Legal & General backs investments of over £1 bln in East London in 2016
Legal & General has backed investments of over £1 billion in East London in 2016. It has already invested over £8 billion in: UK infrastructure; Housing and Urban Regeneration; and SME Finance, and is on track to invest £15 billion.
Legal & General invests in infrastructure to secure long-term income for pensioners and returns for shareholders. Infrastructure investment delivers a higher risk adjusted return than gilts and low yielding bonds, it boosts UK economic growth, which benefits UK business and society.
In East London, Legal & General’s investments include:
-Transport for London’s new £246 million headquarters in Stratford;
-Build to rent flats in Walthamstow, in partnership with PGGM, creating over 400 homes;
-Forward funding of 445 rooms for Queen Mary University of London students in Stratford for £63 million;
-DP World’s London Gateway port, with the Pension Protection Fund for £400m; and
-Amazon’s new fulfilment centre at Tilbury.
Kerrigan Procter, Managing Director, Legal & General Retirement (photo) said: “East London is a great place to invest. We have invested over a £1 billion of long-term capital in new assets, and are looking at many more opportunities here, and across the UK. Our direct investments are economically and socially useful, with every £1 invested in physical infrastructure generating around £3 of local economic activity.
“In a world where over $10 trillion of government bonds earn negative returns, our direct investments create local economic growth, income for pensioners, and returns for shareholders. The UK needs new infrastructure, if it’s going to grow and prosper in the 21st century, and we are helping to fund and deliver it.”
Source: L&G Group