PROPERTY PRESS RELEASES
The most recent press releases for Legal and General Property are listed below.
For all LGIM press releases please go to Legal & General Group web site by clicking here.
23/07/10 - LEGAL & GENERAL LAUNCHES "OFFICE OCCUPIERS’ GUIDE TO SUSTAINABILITY" AS MAYOR RECOGNISES WORK WITH TENANTS IN THE BATTLE AGAINST CLIMATE CHANGE
In the latest of its market leading sustainability
initiatives, Legal & General Property has produced the "Office Occupiers‘
Guide" to sustainable property, through which it
aims to arm its office tenants with the necessary
understanding of environmental impact of property,
and a toolkit to implement change.
01/07/10 - CLIMATEWISE PRINCIPLES – 2010 REPORT ON PROGRESS FROM LEGAL & GENERAL
At Legal & General we recognise that climate change
and our approach to mitigation and factoring it into
the way we run our business is something that
matters to us and to our stakeholders. We were a
founding member of the ClimateWise Principles and
currently have representatives from both business
and support functions sitting on the ClimateWise
Management Committee. Since our last update in June
2009 there have been a number of developments within
Legal & General on progress against the key aspects
of the six ClimateWise principles, which we are
disclosing below.
21/06/10 - LEGAL & GENERAL PROPERTY BUYS TWO RETAIL INVESTMENTS WITH FUTURE DEVELOPMENT POTENTIAL
Legal & General Property has acquired two
retail/leisure schemes with development potential.
The assets, which comprise The Blenheim Centre in
Hounslow and Castle Place Shopping Centre and St
Stephen’s Place in Trowbridge, were acquired for
£35.5 million and £7.8 million respectively,
representing net initial yields of 5.6% and 10.8%
respectively.
26/05/10 - LEGAL & GENERAL AND MITSUBISHI LAUNCH PIANO'S FIRST UK SCHEME
Legal & General Property and Mitsubishi Estate
Company today launched Central Saint Giles, the
first completed development in the UK by
internationally-acclaimed architect Renzo Piano.
05/05/10 - LEGAL & GENERAL PROPERTY ADVOCATES A FOCUS ON HIGH QUALITY ASSETS GIVEN WEAK ECONOMIC RECOVERY
At today’s Fundamentals briefing, Robin
Martin, Head of Research at Legal & General Property, set out LGP’s view on commercial real
estate returns in 2010.
04/05/10 - LEGAL & GENERAL SCOOPS PROPERTY FUND MANAGER OF THE YEAR AT PROPERTY WEEK AWARDS
Legal & General Property has this week
received recognition for its achievements over the
past year, after it was announced that it had been
awarded as "Property Fund Manager of the Year" at
the Property Awards 2010.
30/04/10 - LEGAL & GENERAL SECURES £24m INDUSTRIAL PORTFOLIO
Legal & General Property, on behalf of its
Property Unit Trust ("PUT"), is pleased to announce
that it has purchased a portfolio of industrial
assets located in Luton, Hounslow, Sevenoaks and
Bristol from a private pension fund for close to £24
million.
08/04/10 - LEGAL & GENERAL PROPERTY APPOINTS ANDREW FERGUSON AS FUND MANAGER FOR THE LEISURE FUND
Legal & General Property announces that it
has secured the appointment of Andrew Ferguson as
Fund Manager for its £210 million Leisure Fund
Limited Partnership.
06/04/10 - LEGAL & GENERAL lAUNCHES UK PROPERTY INCOME FUND
Legal & General Property today announces
the successful first close of its UK Property Income
Fund (the "Fund"). Subscriptions secured from a
number of European institutions have provided the
Fund with over £175m of equity to deploy. With a
strong pipeline of investor interest, the Fund is
targeting a GAV of £500m in the first half of 2010,
through a series of closings, and would be capped at
a GAV of £1bn.
08/02/10 - LEGAL & GENERAL LAUNCHES LPI INCOME PROPERTY FUND
In partnership with Legal & General Investment
Management, Legal & General Property announces the launch of a new product, the LPI
(Limited Price Inflation) Income Property Fund (the
"Fund"), which offers Defined Benefit pension
schemes an innovative way to invest in property
coupled with a secure source of income, primarily
government-backed, all with inflation-linkage.
18/01/10 - LEGAL & GENERAL PROPERTY LETS 460,000 SQ FT WAREHOUSE IN BEDFORD TO SAINSBURY'S
Legal & General Property is pleased to
announce that it has secured Sainsbury’s as a tenant
at Bedford Connect, its 461,718 sq ft (42,893 sq m)
warehouse in Marsh Leys Distribution Park, Bedford.
23/12/09 - LEGAL & GENERAL PROPERTY ACQUIRES COVENT GARDEN PORTFOLIO
Legal & General Property has acquired a
portfolio of 11 freehold properties located in
Covent Garden from ING Covent Garden Limited
Partnership. The transaction was completed at a
total consideration of £119.5 million, reflecting a
net initial yield of 6.75% and an overall capital
value of £563 per sq ft.
22/12/09 - LEGAL & GENERAL PROPERTY ACQUIRES WILMSLOW PARK, MANCHESTER, FOR £17.3 MILLION
Legal & General Property’s Managed Fund has acquired
53,375 sq ft of mixed-use space in central
Manchester from HSBC Pension Fund for £17.3 million,
at an initial yield of 6.75%
20/11/09 - LEGAL & GENERAL PROPERTY FURTHER EXPANDS ITS IN-HOUSE DEVELOPMENT CAPABILITIES
Legal & General Property announces that it has
appointed Simon Russian as Senior Fund Manager of
Retail Development, in a drive to further strengthen
its in-house development expertise and assist in
extending its project pipeline and capacity.
20/11/09 - FRIARY STREET, GUILDFORD ATTRACTS THREE MAJOR RETAILERS
Following the recent letting to Jamie’s Italian,
Legal & General Property, represented by
international real estate advisor Savills, has let
2/3, 17/20 and 21/22 Friary Street in Guildford to
Cotswold Outdoors Ltd, TK Maxx and SuperGroup
Holdings LLP, respectively.
16/11/09 - LEGAL & GENERAL PROPERTY AND NORTHAMPTON BOROUGH COUNCIL SIGN DEVELOPMENT AGREEMENT FOR THE REDEVELOPMENT AND EXTENSION OF THE GROSVENOR CENTRE, NORTHAMPTON
Legal & General Property and Northampton Borough Council (NBC) are pleased to announce that they have signed a Development Agreement, which provides the legal framework for the proposed redevelopment of the Grosvenor Centre and its extension.
06/11/09 - LEGAL & GENERAL PROPERTY ACQUIRES KEY STOCKLEY PARK ASSET
Legal & General Property announces that it has acquired the freehold interest of No 4 The Square, Stockley Park, on behalf of its Linked Pensions Fund (the
"Fund"), from Ropemaker Properties, the property holding company of BP Pension Fund. LGP purchased the asset for £26 million, representing a net initial yield of 8.76%.
23/10/09 - First leisure acquisition for Linked Pensions Fund, by manager of the top performing Leisure Park Fund
Legal & General Property announces that it has
acquired Cardinal Leisure Park, Commercial Road,
Ipswich, on behalf of its Linked Pensions Fund (the
"Fund"), from PRUPIM for circa £19.4 million,
representing a net initial yield of 8.4%.
23/10/09 - Legal & General Property acquires Lotus Park in Staines
Legal & General Property announces that it has
acquired the freehold interest of Lotus Park, The
Causeway, Staines from McKay Securities Plc, for
£24.23 million, representing a net initial yield of
8.55%.
16/10/09 - LEGAL & GENERAL PROPERTY PASSES £100 MILLION MILESTONE IN ITS £600M INVESTMENT DRIVE
Legal & General Property
announces that it has completed over £110 million of
acquisitions as part of its major investment drive
to take advantage of the market volatility and
capture the rare opportunities that are now unfolding.
31/07/09 - LEGAL & GENERAL PROPERTY APPOINTS NEW HEAD OF TRANSACTIONS TO LEAD INVESTMENT DRIVE
Legal & General Property
announces that it has appointed Gordon Aitchison as
Director of Transactions, a new role created to lead
the Company’s acquisition push.
20/07/09 - LEGAL & GENERAL PROPERTY LETS 208,000 SQ FT WAREHOUSE IN MANCHESTER TO BIFFA
Legal & General Property is
pleased to announce that it has secured Biffa Waste
Services Ltd ("Biffa"), one of the UK’s leading
waste disposal/recycling companies, as a tenant at
Fusion, its 208,000 sq ft (19,323 sq m) high bay
warehouse facility at Trafford Park, Manchester.
18/06/09 - LEGAL & GENERAL PROPERTY CELEBRATES HAT-TRICK OF AWARDS
Legal & General Property is celebrating
several awards in recognition for its achievements
over the year, after it was announced that it had
been honoured as ‘Property Fund Manager of the Year’
at the Professional Pensions Awards; ‘Best Property
Fund’ for the performance of Legal & General UK
Property Trust over the course of the year at the
Money Observer Fund Awards; and with a Silver Award
at the Green500 Annual Awards 2009.
12/05/09 - CENTRAL SAINT GILES ACHIEVES BREEAM "EXCELLENT"
Central Saint Giles, Legal & General and
Mitsubishi Estate Company’s mixed-use development
under construction on St Giles High Street WC2,
London, has achieved a BREEAM "Excellent" rating for
its offices.
30/04/09 - LEGAL & GENERAL PROPERTY APPOINT INDUSTRY GURU GERRY BLUNDELL AS STRATEGY ADVISER
Legal & General Property is pleased to
announce that it has appointed Gerry Blundell as a
Strategy Adviser, working across its funds and
supporting its research team, led by Robin Martin, LGP’s Head of Research.
27/04/09 - LEGAL & GENERAL INVESTMENT MANAGEMENT WINS AT UK PENSION AWARDS
Legal & General Investment Management (LGIM) has
once again been recognised as an industry leader,
winning a total of three awards at the 2009 UK
Pensions Awards ceremony organised by Professional
Pensions.
15/04/09 - "Bond-Like Protection, Equity-Like Opportunities", Legal & General Property ask: Is Commercial Property fit for the future?
At today’s monthly Legal & General Investment
Management (LGIM) Fundamentals briefing, Robin
Martin, Head of Research for Legal & General
Property (LGP) explained how the ‘convertible’
characteristics of commercial property make the
asset class particularly attractive in the current
uncertain economic environment.
04/03/09 - CRACKING THE CODE VITAL FOR INDUSTRY SAYS UK GREEN BUILDING COUNCIL
The UK Green Building Council (UK-GBC), of which
Legal & General Property is a key player, has today
called for the introduction of a Code for
Sustainable Buildings to cover all non-domestic
buildings, both new and existing.
16/01/09 - BILL HUGHES, MANAGING DIRECTOR OF PROPERTY, APPOINTED CHAIRMAN OF THE ASSOCIATION OF REAL ESTATE FUNDS
Bill replaces former AREF Chairman, Nick Cooper,
Global CEO of ING Real Estate Select, who has helped
build the profile, strength and reputation of the
Association, which is now supported by 68 active
members. Going forward, and working alongside AREF’s
CEO, Rachel McIsaac, Bill will provide fresh
leadership to drive the organisation forward.
08/12/08 - LEGAL & GENERAL PROPERTY APPOINTS NICK DELANEY AS PLANNING MANAGER
Legal & General Property (LGP) is pleased to
announce that it has appointed Nick Delaney as
Planning Manager.
24/11/08 - LEGAL & GENERAL PROPERTY CALLS FOR GREATER INCLUSION OF CLIMATE CHANGE AWARENESS IN INVESTMENT STRATEGIES AT FIRST CLIMATEWISE REVIEW
At today’s ClimateWise: One Year Review event in
the City of London, Bill Hughes, Managing Director
of Legal & General Property, will call for greater
adherence to climate change issues in both the
property and insurance industry’s culture, citing
benefits realised through progress made to date
within LGP.
16/9/08 - LEADING INDUSTRY FIGURES KICK OFF UK-GBC CODE FOR SUSTAINABLE BUILDINGS TASK GROUP
Leading figures from across the built environment
community, will be working with the UK-GBC over the
next six months to scope out a Code for Sustainable
Buildings.
29/8/08 - FIRST BBP/GREEN500 PARTNERSHIP FORMED WITH LEGAL & GENERAL PROPERTY
Legal & General Property is the first major UK
commercial property investor to trialscheme to drive
sustainable performance through closer working
relationships between landlords and tenants.
18/8/08 - LEGAL & GENERAL PROPERTY PROMOTES FUND MANAGER PAUL EDWARDS TO BOARD
Legal & General Property is
pleased to announce that it has appointed Paul
Edwards to the LGP Board as Director with effect
from 1st August 2008.
18/7/08 - LEGAL & GENERAL PROPERTY APPOINT ANDY BANKS AS FINANCE DIRECTOR
Legal & General Property is pleased to announce
that is has appointed Andy Banks as Finance
Director. Andy rejoins Legal & General
Property form New Star, where he spent 18 months as
Chief Operating Officer for Property.
07/7/08 - LEGAL & GENERAL PROPERTY AND COLLEGE OF ESTATE MANAGEMENT UNVEIL PIONEERING NEW PARTNERSHIP AND MILESTONE FOR PROPERTY INDUSTRY AND SUSTAINABILITY
Legal & General Property and the College of
Estate Management are today, 7 July, 2008, delighted
to announce an exciting new partnership dedicated to
embedding the principles and practice of
sustainable working throughout the property
industry.
