Legal & General Investment Commitment with WMCA
17th May 2023
West Midlands Combined Authority and Legal & General (L&G) have signed a partnership agreement with L&G committing to invest £4 billion in regeneration, housing and levelling up across the West Midlands.
The landmark agreement, L&G’s first with a combined authority, sets out a commitment to a seven-year programme of L&G investment – building on the region’s landmark 2022 Investment Prospectus.
The agreement is designed to create vibrant, dynamic communities in the region which, by providing attractive environments for people to work, live and play, will further enhance the West Midlands as a driver of UK economic growth.
The agreement will help develop:
- Housing of all tenures (Social, modular; commercial property and urban regeneration across multiple sites).
- Climate-friendly projects.
- Affordable housing.
L&G, which manages £1.4 trillion as the UK’s largest investor, has financed over £30bn of regeneration in UK towns and cities outside London, and wants to repeat the scale of this investment. It has already invested over £2bn in the WMCA’s region, including the £210m Birmingham Health Innovation Campus and multiple housing projects.
Read more about the agreement here.
Download the WMCA 2022 Investment Prospectus here: west-midlands-2022-investment-prospectus