L&G agrees £350m investment in Bristol Temple Island

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bristol temple island

Legal & General has agreed terms with Bristol City Council to invest £350m into Bristol Temple Island to transform the vacant site into a new urban quarter

Bristol Temple Island will support the city’s plans to build back better and back the creation of 2,000 new jobs.

Temple Island will complement the wider ‘Temple Quarter’ partnership, which includes Bristol City Council, the University of Bristol and Network Rail.

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), the scheme 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 will be heated by a District Heating Scheme provided by Bristol City Council and the buildings will target a minimum of BREEAM Excellent status.

‘A city for all’

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.”

Following the agreement of terms, Legal & General will be launching the first phase of its public consultation on the plans for Temple Island.

Further details about the initial phase of public consultation will be released over the summer.

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