Legal & General’s Suburban Build-to-Rent business
(L&G SBTR) and Cala Homes have agreed an exchange of 107 homes at Buckler’s
Park, Crowthorne, in the South East of England.
This is the first forward funding transaction between
L&G SBTR and major homebuilder Cala, which are both owned by Legal &
General Capital.
The 107 homes are expected to be completed in 2025 and
will comprise two- and three-bedroom houses constructed to the new Part L
standards with electric vehicle charging (EVC) points and air source heat
pumps.
The wider Buckler’s Park 1,000-home masterplan, led by
Cala’s Thames business, will include a community and sports hall, nursery,
café, flexible meeting spaces, and a new primary school.
David Reid, Managing Director of Legal & General
SBTR, said: “Demand for new homes remains high
across the country, so it is vital to keep investing in and developing
multi-tenure offerings to suit the diverse needs of housing customers. At Legal
& General SBTR, we aim to deliver the high-quality housing stock with
reliable customer service needed to meet this demand, and we are thrilled to be
collaborating with Cala Homes on the Buckler’s Park site in Crowthorne.
“We
look forward to continuing our relationship with Cala to deliver much-needed
homes for rent across the UK and to build upon the synergies between the
L&G housing businesses.”
John Richards, Land & Planning Director of Cala Homes
Thames, said: “We’re
delighted to work with our colleagues at Legal & General SBTR to broaden
the tenure mix and accelerate delivery of much-needed homes in Crowthorne. Buckler’s
Park is an excellent example of brownfield regeneration – we’re meeting local
needs by building a range of high-quality dwellings, from one-bedroom
apartments up to five-bedroom homes, and now LGSBTR is delivering homes for
rent too.”
“Projects like
Buckler’s Park demonstrate the opportunity for collaboration between Cala and
Legal & General’s other housebuilding businesses to deliver high-quality
homes across a wider range of tenures, on the same site for local community
benefit.”
Legal & General’s SBTR platform creates much needed,
high quality family homes in areas connected to schools, transport
infrastructure and key amenities, offering a best-in-class product, exceptional
service as an institutional landlord, and a long-term, reliable service
proposition for customers.
L&G SBTR homes are designed to reflect new ways of
living post-COVID, such as incorporating home offices and offering access to
more extensive outdoor space. In line with Legal & General’s wider
commitment to sustainability, the SBTR platform will target to be operationally
carbon net zero from 2030.
