LGP Appoints Head of Residential.
21 March 2014
Legal & General Property (“LGP” / the “Company”) announces that it has appointed James Lidgate as Head of Residential, as it continues to accelerate its activity in the residential sector and support the UK’s housing needs.
James joins the Company from Bellway Homes, where he held the position of Land Director since 2010. Under this role, James was responsible for managing and developing a new land team. Leading to the most successful period of land acquisition for the North London division, James helped lead the Management Team to become the most profitable division of Bellway Homes as well as focusing the business on the North and West London Boroughs. Originally joining Bellway Homes in 2004 as land manager, James has also held previous roles at St George and Laing Homes, and brings with him around 14 years’ experience in the residential sector.
Supporting L&G’s strategy to continue to grow its role in addressing the UK’s chronic housing shortage, James’ appointment demonstrates growing momentum in the Company’s ability to fund a wide range of supply-side residential initiatives. As part of this, it is actively working with Housing Associations to support the expanded supply of social and affordable housing, is involved in a number of inner-city regeneration projects through the English Cities Fund, has taken a stake in a housebuilder, and has committed significant capital to the student accommodation and care home sectors, amongst other initiatives.
In his new role at L&G, James will not only focus on new land acquisitions and investment opportunities, and help to stimulate new housing delivery over a range of strategic land holdings across the UK, but will support the Company in accessing new forms of investment into the sector and structuring innovative funding initiatives.
Forming part of L&G’s unrivalled sector specialist skill set, furthermore James’ appointment will add to the diverse range of sector level knowledge and expertise held across LGP’s fund management platform. Providing the teams with in-depth insight into the key micro issues affecting a given asset, including the leasing market, potential tenants, new development provisions, access to established tenant relationships and recent transactions, this forms a vital part of L&G’s approach to pro-active asset management.
Bill Hughes, Managing Director of Legal & General Property, said: “Demonstrating our continuing commitment to the sector, James’ appointment reflects the meaningful role that Legal & General believes that the private sector as a whole can play in helping to find a solution to the housing shortage. Focused on supply side initiatives, as a long-term provider of investment capital, L&G has already invested £5.2 billion in UK infrastructure projects to date, of which its investment into residential sector forms a major part.”
Notes to editors
Legal & General Property
Legal & General Property (LGP) is a wholly-owned subsidiary of Legal & General Investment Management (LGIM), one of Europe’s largest institutional asset managers and a major global investor. LGIM manages approximately £443bn in assets on behalf of more than 3,100 clients (30 September 2013) and provides products and solutions spanning all asset classes. LGP is the third largest institutional property fund manager in the UK, managing or co-managing 16 separate funds or vehicles and two segregated mandates with an aggregate asset value of £11.6bn as at 30 September 2013. These funds include:
Specialist Pooled Funds
The Leisure Fund Limited Partnership; Industrial Property Investment Fund; Arlington Business Parks Partnership; and the English Cities Fund
Single Asset Vehicles
Bracknell Regeneration Partnership; Central Saint Giles Partnership; Performance Retail Limited Partnership and Warrington Retail Limited Partnership
Life Fund; Linked Pensions; Linked Life; Managed Fund; Property Unit Trust; UK Property Income Fund; LPI Income Property Fund and the Hybrid Property Fund.
LGP’s UK-focused fund management platform has built and retained a strong track record of out-performance across the sector. Owing to its size, diversity and penetration, it benefits from best in class banking and property industry contacts which, along with its wealth of in-house skill and expertise, have enabled it to continue to attract and secure high quality market opportunities. Taking a client-centric approach, the business places the highest priority upon integrity and transparency, leveraging upon the significant resources provided by the wider LGIM platform. Sector specialists cover each sphere of the market and are supported by LGP’s market-leading research capability. LGP’s sector specialisms cross all facets of the real estate market. In particular, the Company has a major development platform, responsible for delivering West End landmark building, Central Saint Giles, and Agar Street, its high profile Covent Garden office scheme, amongst others, and is currently involved in bringing forward a number of significant town-centre retail and leisure regeneration projects, including Bracknell, Trowbridge, Northampton and Eastbourne.
Legal & General Property Limited. Registered address: One Coleman Street, London EC2R 5AA. Registered in England 2091897.
For more information please contact:
PR Manager, Legal & General Capital and Real Assets, LGIM (Property, infrastructure and alternative finance)
t: + 44 (0) 203 124 2777
m: + 44 (0) 7718 395 279
About Legal & General
Legal & General Property Limited.
One Coleman Street
London EC2R 5AA.
Registered in England 2091897.