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Build To Rent: Legal & General beefs up £600m investment team

Legal & General Capital, which is set to be one of the biggest names in the burgeoning Build To Rent sector in the UK, has announced kay new appointments. 

James Lidgate has been named as director of housing, overseeing LGC’s residential investment strategy. Lidgate was previously at LGIM, having previously spent almost two years as Head of Residential within the Real Assets business.  

His new role is described as being “to explore all opportunities to increase Legal & General’s exposure to the UK’s residential sector ... helping to boost Britain’s housing supply across all tenures.” This is likely to include regeneration-led housing schemes and asset managing LGC’s £600m Build to Rent partnership with Dutch pension fund manager, PGGM. 

“We believe that through transformative long term investment we can tackle the UK’s dysfunctional house building system to create high-quality cost efficient homes across the spectrum” says Lidgate. 

LGC says it will focus its Build To Rent schemes in urban locations centred around key transport hubs, probably in regeneration-led locations with strong growth and employment prospects. Schemes are likely to be 150-unit and larger.

LGC claims it will deliver 40 per cent to 50 per cent energy savings to residents of its Build To Rent schemes.

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