Legal & General has announced that it has agreed terms with Bristol City Council to invest £350m into Bristol Temple Island, transforming the disused site into a vibrant new urban quarter.

With a focus on social inclusion through affordable housing, training and employment opportunities, Temple Island will support the city’s plans to build back better and back the creation of 2,000 new jobs.

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Using the UK’s pensions and savings to drive economic growth in the region – post-COVID – Temple Island will complement the wider ‘Temple Quarter’ partnership, which includes Bristol City Council, the University of Bristol and Network Rail.

Legal & General is already a significant investor Bristol, having committed £310m to nearby Build to Rent and modular housing schemes, alongside commercial real estate, such as a Civil Service hub and the Quayside Bristol office development.

Legal & General’s new development will bring forward a resilient city centre offer in the face of current structural changes in working, retailing and leisure. The Temple Island scheme will enable the growth and innovation stemming from the University’s neighbouring new Innovation Campus by providing incubator space, affordable housing and new employment opportunities for the local knowledge economy.

Designed by Zaha-Hadid Architects (ZHA), Temple Island will include a large capacity conference centre and exhibition space, a 345-room hotel, 550 new homes (including 220 new affordable homes) and two major Grade A office buildings. As part of its commitment to tackle the growing climate crisis, Legal & General’s scheme at Bristol Temple Island will be heated by a District Heating Scheme provided by Bristol City Council and the buildings will target a minimum of BREEAM Excellent status.

Nigel Wilson, CEO of Legal & General, said: “Our investment partnerships in cities such as Oxford, Manchester, Cardiff and Newcastle are already delivering at pace, and likewise our vision for the Temple Island will deliver a much-needed new quarter in Bristol. The conference centre will attract delegates from around the world, whilst the offices and affordable homes will meet an urgent local need and support new ways of living, post-pandemic.

“We have been attracted by Bristol City Council’s commitment to become a “city for all”. aligning with our ambitions to level up across UK regions and cities, using the power of pensions. Alongside, we firmly believe this development offers a perfect complement to Bristol University’s new Innovation Campus, providing space to incubate new talent and start up companies coming out of the university.”

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