​PGGM, Legal & General get green light for east London PRS scheme

A build-to-rent, private-rented sector (PRS) scheme by a PGGM and Legal & General joint venture has been given planning approval.

Waltham Forest Council approved the development in Walthamstow.

The Dutch pension fund manager and Legal & General Capital are looking to invest £600m (€790m) in the UK’s PRS, as reported in January.

Dan Batterton, fund manager for L&G’s build-to-rent arm LGIM Real Assets, said the decision put the strategy on track to deliver hundreds of new homes in East London, “offering high-quality yet attainable accommodation on a flexible basis to suit the lifestyles of modern renters”.

Legal & General Investment Management Real Assets is developing the 440-unit scheme for the joint venture.

A final decision on the scheme will be passed to the Greater London Authority.

The development includes cafes, a food store, communal working spaces, open landscaped areas and leisure space for residents.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2540

    Asset class: All/Large Cap Equities.
    Asset region: UK.
    Size: The fund will be added to our guided fund range.
    Closing date: 2019-05-27.

  • QN-2541

    Asset class: Small/Mid-Cap Equities.
    Asset region: Switzerland.
    Size: CHF 130m.
    Closing date: 2019-06-04.

  • QN-2542

    Asset class: All/Large Cap Equities.
    Asset region: Switzerland.
    Size: CHF 130m.
    Closing date: 2019-06-04.

Begin Your Search Now