Legal & General, PGGM and Nest have acquired a former NHS site in Lambeth with plans to develop a £350M BTR-led mixed-use scheme.

Legal & General (L&G) has exchanged contracts with the NHS to acquire a six-acre former hospital site in Lambeth to deliver a build-to-rent (BTR) scheme with a gross development value of £350m.

The inaugural three-year project will receive a government support package worth 2.1 trillion won ($1.5 billion). Lotte Chemical and HD Hyundai Oilbank will each invest 600 billion won--totaling 1.2 ...