L&G and Natwest pension fund to build 5,000 later living homes

L&G Bramshott Place

New £500m joint venture for net zero apartments announced

Legal & General and Natwest Group’s pension fund have formed a joint venture to deliver 5,100 net zero homes for over 65s.

Under the deal announced today, L&G has sold a 50% stake in the first 11 sites developed by its later living development arm Inspired Villages, for more than £150m, valuing the business at over £300m. Natwest Group Pension Trustee Ltd’s (NWPTL) purchase will contribute to a total investment of £500m in developing new homes.

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