21 May 2020
L&G Walthamstow BTR scheme recognised for world-leading digital connectivity
LGIM Real Assets (Legal & General) announces that Blackhorse Mills, its 479-home Build to Rent scheme in Walthamstow, has become the first ever residential building to achieve a WiredScore Gold certification.
Wiredscore, an international rating scheme working within the real estate sector, awarded L&G’s Blackhorse Mills scheme the highest accolade it has ever given for digital connectivity on a residential building, demonstrating a commitment to reliable, instant connectivity and for providing customers with a seamless digital experience.
Connectivity highlights include high quality digital infrastructure, a fibre internet connection to every apartment, Wi-Fi throughout the scheme and Ethernet ports in living spaces. This means renters can use wired connections for their devices, and there is less risk of outages or poor connections. Residents of Blackhorse Mills are also able to get connected from the day they move in with a choice of different packages, providing ultimate flexibility.
Blackhorse Mills, completed earlier this year, is a unique waterside rental destination, providing residents with access to large, communal workspaces; private hire meeting rooms; a yoga studio; games room; gym; swimming pool; and views over the neighbouring Walthamstow Wetlands. Designed in close consultation with Walthamstow Council, the site includes 104 affordable homes, with a dedicated number of these reserved specifically for key workers.
WiredScore Home empowers landlords and developers to improve the digital connectivity of their properties, helping them to understand how to implement best-in-class digital infrastructure. The rating scheme helps landlords to save time and money by reducing the risk of expensive retrofits in the future as well as offering renters transparency and assurance.
Launched in May 2019, WiredScore Home currently has over 10,000 homes committed to certification, with the likes of GreyStar, Argent, LaSalle, L&G, Patrizia and Long Harbour amongst others. It is the first digital connectivity rating scheme for the Build to Rent market.
I am proud that our Blackhorse Mills scheme has been recognised for its hyper-connectivity, providing residents with a seamless digital experience and future-proofing our investment for years to come.
The anticipated continuation of home working beyond the current lockdown has demonstrated the need for residential properties to be equipped with a fast, reliable internet connection. We expect that as the lockdown eases, digital connectivity and dual working-and-living spaces will become a priority for renters, making Blackhorse Mills an ideal base for remote workers.
Undertaking this commitment demonstrates the forward-thinking approach that has been taken. LGIM Real Assets has recognised the immense value of investing in flexible and reliable digital infrastructure as part of their mission to provide a superior in-home experience for their renters. This is essential as technology continues to advance and change, and people’s lives become more reliant on their digital connections.
At the UK launch of WiredScore Home, Rt Hon Jeremy Wright MP, the then Secretary of State for Digital, Culture, Media and Sport, highlighted the importance of residential connectivity for the UK. He stated: "When it comes to building new homes, we need to make sure that digital connectivity is seen as just as essential as bricks and mortar. These are the foundations upon which a modern digital economy is built.
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Notes to editors
LGIM Real Assets
LGIM Real Assets is a division of Legal & General Investment Management (LGIM), one of Europe’s largest institutional asset managers and a major global investor. LGIM manages £1.2tn in assets (as at 31 December 2019), working with a range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors. LGIM Real Assets has AUM of £30.8bn (as 31 December 2019) and is one of the largest private markets investment managers in the UK.
Investing in both debt and equity and across the risk/return spectrum, LGIM Real Assets actively invests in and manages assets across commercial, operational and residential property sectors, as well as infrastructure, real estate, corporate and alternative debt. Taking a long term view in order to future proof its investments, the business continues to lead the industry in ESG performance, considering all environmental, social and governance issues at asset level as well as portfolio level.
Legal & General Group
Established in 1836, Legal & General is one of the UK’s leading financial services groups and a major global investor, with international businesses in the US, Europe, Middle East and Asia. With almost £1.2 trillion in total assets under management at 31 December 2019, we are the UK’s largest investment manager for corporate pension schemes and a UK market leader in pensions de-risking, life insurance, workplace pensions and retirement income. We have also invested over £25 billion in direct investments such as homes, urban regeneration, clean energy and small business finance.
WiredScore is the international scheme that rates and provides transparency on the infrastructure, connectivity and technological capacity of real estate. WiredScore was founded in New York in 2013 by leaders in real estate, technology and telecommunications, with an endorsement from Mayor Bloomberg, to improve the city’s technology infrastructure, and support its entrepreneurs who are driving technological advances and creating jobs.
Following success in the US, WiredScore launched in the United Kingdom in October 2015 after winning the Greater London Authority’s tender to be the official Mayor of London Digital Connectivity Rating Scheme. International demand for the digital connectivity rating system has since seen the company expand operations to Australia, Netherlands, France, Ireland, Germany, and Canada. To date, over 500 million square feet of real estate has been certified globally.
Their first residential digital connectivity rating scheme WiredScore Home was launched in May 2019 by the Secretary of State for Digital Culture Media and Sport. There are currently over 10,000 homes committed to certification.