Pension funds

Meeting: 
MQT on 2015-05-21
Session date: 
May 21, 2015
Reference: 
2015/1308
Question By: 
Tom Copley
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

What progress has the Mayor made in ensuring greater investment by pension funds in building new housing in Greater London?

Answer

Answer for Pension funds

Answer for Pension funds

Answered By: 
The Mayor

In September last year a ground breaking deal was announced for GLA-owned land in Pontoon Dock, in the Royal Docks in Newham.  This development aims to provide more than 200 new homes with the London Pension Fund Authority providing 85% of the funding for the Private Rental Sector elements of the development.

In addition to this, a wide range of other pension funds are investing in new housing, including: M&G investing in Private Rented Sector homes in Stratford and other London locations; APG.and Grainger buying purpose-built private rented housing in the Hallsville Quarter in Canning Town; APG also investing in the Elephant & Castle regeneration scheme; and Washington State Pension Fund investing in new purpose-built private rented homes through Essential Living. Other funds such as Legal & General are active within the market.