Legal & General has launched a new business that builds prefabricated homes.
It says the finished units will be “modern, precision engineered” homes, built in a factory in Leeds. They range from 20-storey apartment blocks to rows of terraced, semi-detached and detached houses, the firm says.
L&G claims using its prefab production technique means homes can be built 70 per cent quicker than those built using traditional techniques.
The firm say it has the capacity to build around 3,000 homes a year at present, but has not ruled out opening further factories in the future. The business will employ between 400 and 500 people.
Legal & General Homes chief executive Tom Ground says: “Legal & General Homes aims to deliver a new solution to the problems we face in the UK, addressing the shortage of suitable, affordable and sustainable housing by manufacturing higher quality, energy efficient, lower cost housing.”