Legal & General Retirement has completed its purchase of The Transport for London Building at The International Quarter in Stratford, E20, for £246m from Lendlease and LCR.
This is the latest in a series of capital investments across the UK including town-centre refurbishments and housing projects in locations including Salford – with Media City – Bracknell, Canning Town, E16, and Walthamstow, E17.
Kerrigan Procter, managing director of LGR, said: “This is a great deal for L&G and our annuitants, as well as for Stratford, where we expect to see real growth in jobs and homes as The International Quarter becomes operational. It is further evidence that we have the scale and the expertise to make a real difference by making our long-term funding available. The UK is a great place to invest and investing in real assets is economically and socially useful; we intend to do more.”
Cushman & Wakefield advised Legal & General Property; JLL acted for Lendlease and LCR.
JLL and BNP Paribas Real Estate are leasing agents on TIQ.
