Legal & General buys suburban build-to-rent scheme to deliver 117 new homes in U.K.
Legal & General has acquired a new suburban build-to-rent scheme in Great Haddon, Peterborough, to deliver 117 new family rental homes. Legal & General’s suburban build-to-rent arm, which launched at the end of 2020, is now scaling a portfolio of large-scale single-family rental communities in suburban locations across the United Kingdom.
As an investment market forecast to grow to in excess of £200 billion (€241 billion/$273 billion), Legal & General aims to be the United Kingdom’s first choice suburban build-to-rent platform creating much needed, high-quality family homes in areas connected to schools, transport infrastructure and key amenities. The project in Great Haddon, purchased for £25 million (€30 million/$34 million), consists of two-, three- and four-bedroom houses, which will be attractive to Legal & General’s target market.
The development, which is being delivered by mixed-tenure developer Countryside, represents the first phas