Legal and General’s Poole Pilot
Case study
Image credit: The Ready House and LGIM
In a bid to incubate the next generation of local businesses, Legal & General (L&G) has offered 10 high street shop units to small local businesses in Poole on a rent- and rates-free basis.
Occupiers include a fishmonger, coffee roaster, design studio, surfboard shop, zero waste grocery store, social enterprise art gallery and restored second-hand furniture shop – many of which have been identified and recruited by a local creative resident.
L&G is also doing creative public realm improvements, a local makers market with space for over 15 vendors, and a calendar of 500 curated annual events – and has established a community partnership with local groups including the council, local educational institutions, charities and NHS in order to deepen engagement and collaboration with the local community, with a focus on local needs.
"We see these sorts of local businesses and the relationships around them as the future of high street retail.
We know that they bring vibrancy, impact and footfall and expect that, in time, most will become paying occupiers – likely on a revenue share model.”
— Matt Soffair, Research Manager, Retail and Leisure Real Assets, L&G
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