Inside L&G’s drive to back government hubs

Last week Legal & General broke its own record for the largest investment made into a government-let property, pumping £211m into forward funding 7-8 Wellington Place in Leeds. Once finished, the 377,730 sq ft office building, being developed by MEPC, will be the new home for HM Revenue & Customs and NHS Digital, prelet on a 25-year lease. The deal, revealed by EG, marks L&G’s 10th investment into government hubs, bringing the total amount of capital it has invested in these assets to £1.5bn. These properties are managed by the Government Property Agency, set up in 2018 to oversee