Legal & General has expanded its government hub programme to over 拢1.5bn (鈧�1.7bn) with the acquisition of an asset in northern England from R20.
The UK insurer said it bought the 373,913sqft Quarry House office asset in Leeds for 拢243m on behalf of Legal & General Retirement.
The asset is let to The Secretary of State for Housing, Communities and Local Government for 25 years.
Quarry House marks L&G鈥檚 second government hub investment in Leeds in a month, having purchased Wellington Place on behalf of HMRC and NHS Digital in August.
The latest deal is L&G鈥檚 eleventh government hub deal.
Tom Roberts, head of strategic investment, at LGIM Real Assets said the acquisition of Quarry House is L&G鈥檚 eleventh government hub investment.
鈥漁ur investment in the programme has now surpassed over 拢1.5bn and we have a very strong appetite to secure more.
鈥淎iding regional regeneration and supporting employment and productivity growth remains a key driver for us, whilst the government hubs programme is a perfect match for Legal & General Retirement鈥檚 pension commitments, offering security through high-quality long-term investments.鈥�
