Legal & General has hired Michael Dempsey as director of development and investment and Shaun Holdcroft as director of operations for Legal & General Affordable Homes.
With 30 years’ experience in the house building industry, Michael Dempsey joins from Wellbury Projects, a development consultancy he established. Prior to this, Dempsey was regional managing director of Keepmoat Homes Southern, responsible for launching its South of England arm and securing a pipeline of 1,700 homes in its first three years of operation.
Dempsey was also a board member of B3 Living, a registered social landlord working on reducing affordable housing build costs.
Shaun Holdcroft has joined the company from Settle. As executive director, Holdcroft was in charge of leadership of the business and strategic planning, looking after 200 staff and around £50m of revenue.
Prior to this, Holdcroft was director of Resident Services London and Commercial Portfolios at Hyde Housing Group and interim head of housing at Southwark Council.
The appointment of Dempsey and Holdcroft is part of Legal & General’s plans to expand its provision of affordable housing. Through its multi-tenure approach, Legal & General Affordable Homes aims to deliver 3,000 homes pa over the next four years as part of its commitment to tackle the UK’s housing shortage.
Legal & General Affordable Homes, which launched in April 2018, will work closely with housing associations and local councils to target all areas of the market, including new-build section 106, grant-funded affordable rent, social rent and shared ownership units.
Ben Denton, managing director of Legal & General Affordable Homes, said: “With only 30,000 affordable homes delivered in the UK each year, and a waiting list of 1.3m, there is an urgent need to close this gap.
“Legal & General is focused on delivering a sustainable model, bringing long-term institutional capital into this sector and working alongside housing associations to make a contribution to increasing investment and tackling the shortage of affordable homes.”
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