Tellon & Legal & General complete funding to enable Bargate Quarter regeneration.
Tellon and Legal & General complete funding to enable Bargate Quarter regeneration in Southampton
We at Tellon are delighted to announce Legal & General, have completed the funding of the Bargate Quarter, the £132m scheme in Southampton, with regeneration works starting immediately.
The transaction is on a forward funding basis to one of Europe’s largest asset managers, Legal & General Investment Management (LGIM) on behalf of its Legal & General Retirement (LGR) business .
Construction is now underway on the town centre regeneration of Bargate Quarter .The scheme will comprise of 519 new homes providing a mix of studios, 1, 2 & 3 bed units along with 2,515sqm of ground floor commercial space. The 5 acre development will be centred around the historic old town walls. Our development will seek to improve the setting of The Bargate and City Walls and provide retail units along with much-needed new housing in a highly sustainable location. Crucially, our scheme also responds to the changing world created by the pandemic, to ensure we have a scheme that respects the past is fit for the future and support the city’s regeneration plans.Building has commenced and we expect the site to be completed late 2024/ early 2025.