Over 400 jobs are set to be created in Leeds after a leading financial services company said it was launching a modular housing business.
Legal & General Homes will look to provide factory manufactured houses through its new factory in Sherburn-in-Elmet.
The company has signed a long-term lease on a 550,000 sq ft warehouse representing the largest modular homes construction factory in the world.
Initially it will employ 400 to 500 local people and expects to deliver its first houses from the factory in June.
Paul Stanworth, managing director of Legal & General Capital, said: “Sustainable, durable modern materials and proven technology will enable us to create high-quality homes meeting a wide range of housing needs and help solve the UK’s housing crisis.”
The modular homes will range from 20-storey apartment blocks to rows of terraced, semi-detached and detached houses. Off-site manufacturing of housing is increasingly common across Europe.
Time spent building on site will be reduced by more than 70 per cent, compared to traditional techniques, manufacturing sections in advance and delivering them to the site to be installed.
Roger Marsh OBE, chair of Leeds City Region Enterprise Partnership (LEP), said they were “delighted” to have played a role in securing the investment from Legal & General.
He said: “The confidence shown not only brings over 400 jobs to the area, it highlights the strength of the City Region’s workforce within the manufacturing sector and underlines our attractiveness to international investors due to our location at the heart of the UK which ensures easy access to both domestic and global markets.”