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  1. January 2019

  2. Legal & General Affordable Homes settles on Cock Lane

    7 January 2019
    The insurance giant Legal & General hit the headlines recently with the announcement that it had been granted Registered Provider status for its new business Legal & General Affordable Homes; part of Legal & General’s ambition to become the leading private affordable housing provider in the UK.
    Legal & General Affordable Homes is aiming to deliver 3,000 homes a year within the next four years by working closely with housing associations and targeting all areas of the market, including new build Section 106 and grant-funded affordable rent, social rent and shared ownership units.

    Legal & General contacted Colliers to find an office for their fast growing Affordable Homes team. The brief was to acquire a suitable workspace as quickly as possible to a list of requirements including a City Fringe location; fully furnished and fitted accommodation; flexibility of term to aid workforce expansion and, perhaps most appropriately of all, an affordable rent. 

    During our searches we uncovered a building in the heart of Smithfield where the landlord was seeking short term lets to facilitate their plans for future development of the wider site. The 2,312ft2 of refurbished space on the 2nd floor of 12 Cock Lane seemed the perfect combination of size, location, lease and price for Legal & General’s brief, with big windows along an entire wall ensuring a bright and pleasant workplace.

    Terms were agreed and, at just 2.5 months from the client’s initial approach to us to completion of the deal, the acquisition represents a particularly swift result, even for the Tenant Representation team!

    “It was a pleasure working with Sophie and her team who took the time to understand our requirements and present a tailored range of options which met our brief. With our team expanding at a rapid rate, we were delighted with the speed with which Colliers identified an ideal property at a very commercial rate.”

    LEGAL & GENERAL

    If you’d like to find out how the Tenant Representation can help you find a suitable new home for your business, contact: Sophie Higgins