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Sat December 07 2019

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L&G pays £211m for Wellington Place buildings

27 Aug Legal & General has bought the buildings under construction in Leeds that will provide office space for 6,000 civil servants.

CGI of 7&8 Wellington Place
CGI of 7&8 Wellington Place

Legal & General has paid £211m to take ownership of 7&8 Wellington Place in central Leeds from Canada Pension Plan Investment Board (CPPIB) and Hermes Investment Management.

The buildings, totalling 377,730 sq ft across eight floors, have already been fully let to the secretary of state for communities & local government on behalf of HM Revenue & Customs and NHS Digital.

Wates Construction is expected to complete construction of the buildings in 2020 under a £92m contract.

Over the past three years, Legal & General has invested more than £1.5bn in government offices across the UK regions. This is the 10th government hub that Legal & General has forward funded.

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