Legal & General launches suburban co-working product
Legal & General Investment Management Real Assets (LGIM Real Assets) has launched FOUNDRY, its suburban co-working product to boost local employment and workspaces.
LGIM Real Assets has partnered with Adam Walker who founded Crate which operates workspaces for early-stage businesses.
FOUNDRY enables businesses to choose a direct product that can be rented by the day, week, or month from a trusted landlord at the inception of their business.
LGIM Real Assets has plans to roll out the initiative more widely with 15 other shopping centre, retail park, leisure, office, and residential Build-to-Rent locations being considered. FOUNDRY is a cross platform as well as cross sector product and can flex to feature workspace, micro industrial, managed office, micro retail, amenity and food and beverage. The workspaces will range in size from two person up to a 10-person office.
The micro retail hub will include seven rentable ‘wardrobes’ and two serviced r