British insurance firm Legal & General has taken a step into the construction sector, revealing it will produce flat pack homes…
A new factory in Yorkshire will see thousands of flat pack homes produced each year. The decision by British insurer Legal & General will see homes built almost entirely off site, using methods that could potentially offer a solution to the housing crisis.
Ambitious targets from the government to build some 200,000 homes a year in England are at risk of failing without serious intervention. It is hoped the move will boost new home building rates across the UK and side-step the skills shortage impacting traditional construction.
The new venture will be carried out by Legal & General Homes, led by L&G’s head of bulk annuities Tom Ground. It will be aimed predominately at constructing homes for rent.
Off-site construction is undertaken to some degree in the UK, but has been limited when compared to other global markets.
Lucian Cook, head of residential research at the estate agency Savills, said: “People have been looking at these methods of construction for a long time but the take-up has been relatively poor to date. You don’t have anyone delivering significant volume into that market.
“Traditional housebuilders are more comfortable with traditional housebuilding models. They haven’t necessarily had the levels of commitment and investment to achieve the economies of scale that this needs.”
Hello, I am trying to find the details of the flatpack homes offered by L & G.
I have outline permission to build houses on my land, but cannot find the information I need about the house sizes, designs cost etc.
Can you point me in the right direction?
Kind regards
Maulden Oakley.