Insurer Legal & General (L&G) has restarted production at its modular homes factory in Elmet, near Leeds, part of its early-stage investment business.
But the rest of its house building operations remain paused as a result of the coronavirus lockdown, with revenue from the businesses “stopped” since March.
That’s according to a first quarter trading update from L&G, which warned that operating profit from its housing operations, which include housebuilder Cala Homes, would be “down year on year”.
Nonetheless, L&G said it was still working to secure planning permissions across the UK, including for a later living facility on the site of its former head office in Kingswood, Surrey.
“We expect to secure further planning permissions, positioning us to continue investing in the UK and helping to meet the country’s need for affordable housing,” the company said.
L&G launched its modular housing business in a 550,000 sq ft factory near Leeds in February 2016. Initially, it promised the first houses in June that year. However, it wasn’t until late 2019 that the first eight-home development was delivered to housing association Silva Homes on a site owned by L&G.
The company has been planning much bigger project on the horizon: almost 150 homes consisting of one- and two-bed apartments and two- and three-bed homes in the centre of a small town. The town has not been named until planning permission is secured.
