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L&G launches social charter for housing
The institutional investor Legal & General (L&G) has launched a social value charter for its housebuilding arm.
L&G Homes claims to be the first house builder to create a charter of this kind, which is intended to monitor the extent to which its developments benefit local communities.
The first development to use this charter will be a 250-acre site in Crowthorne, Berkshire. L&G intends to deliver 207 new homes in the first phase and build a primary school, care home, community facility and nature reserve over the course of the scheme.
The charter will measure community impact in pounds and will be in addition to any Section 106 contributions made by L&G.
James Lidgate, CEO of L&G Homes, said: “We want to shake up how we look at housebuilding. It is much more than just building homes. It is looking at how we regenerate the UK landscape for the better and building healthy communities.”
John Allan, the company’s managing director, added: “Our ethos is that we should build houses and communities where we would be happy for ourselves and our families to live. To do this we need to listen to what our communities want.”
L&G recently entered the retirement sector, purchasing a joint venture in the sector between Places for People and specialist care village operator English Care Villages, for £40m.
