LGIM Real Assets has secured the approval from the Bristol City Council for its build-to-rent (BTR) project in Bristol city centre, UK.
The ND7development is part of the Legal & General’s wider £200M investment in Bristol and will be located within the Temple Quay Enterprise Zone.
Designed by Assael Architecture,the property will comprise 255 housing units. The development will incorporate various green features, such as options to embed energy generation, lower energy usage, appropriately resource sensitive materials, and optimise water and waste efficiency.
LGIM Real Assets’ BTR fund manager Dan Batterton said: “In Bristol there are increasing numbers of people needing to rent and an urgent need for high density, city centre, rental accommodation.
“It is great news that this innovative scheme has been approved by Bristol City Council, who recognise that ND7 will make a major contribution towards Bristol’s rental housing supply.”
Legal & General, through Legal & General Capital (LGC) and LGIM Real Assets, joined forces with PGGM to enter the BTR market in 2016. LGIM Real Assets BTR fund, along with LGC and PGGM, is investing £1bn in new large-scale rental development projects in the UK.
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