Legal & General has expanded its Affordable Homes leadership team with two new appointments.

Michael Dempsey and Shaun Holdcroft have joined Legal & General Affordable Homes as Director of Development and Investment, and Director of Operations, respectively.

Mr Dempsey joins Legal & General with 30 years' experience in the house building industry from his own development consultancy Wellbury Projects Limited, Keepmoat Homes Southern and Registered Social Landlord B3 Living.

Mr Holdcroft has joined the company from settle. As Executive Director, he was in charge of leadership of the business and strategic planning, looking after 200 staff and £50m of revenue. Prior to this, Mr Holdcroft was Director of Resident Services London and Commercial Portfolios at Hyde Housing Group and Interim Head of Housing at Southwark Council.

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The appointment of both Dempsey and Holdcroft supports Legal & General's commitment to accelerate and grow the provision of affordable housing. Legal & General Affordable Homes aims to deliver 3,000 homes per annum within the next four years, as part of its wider commitment to tackle the UK's chronic shortage of housing through its multi-tenure approach. They will work closely with housing associations and local councils to target all areas of the market, including new build Section 106 and grant-funded affordable rent, social rent and shared ownership units.

Ben Denton, Managing Director of Legal & General Affordable Homes, said: "With only 30,000 affordable homes delivered in the UK each year, and a waiting list of 1.3m, there is an urgent need to close this gap. Legal & General is focused on delivering a sustainable model, bringing long-term institutional capital into this sector and working alongside best-in-class Housing Associations to make a genuine contribution to increasing investment and tackling the shortage of affordable homes. As we gear up towards the acquisition of our first sites, our major focus has been to put together a stellar team to support our ambitions. Mike and Shaun bring a wealth of experience from across the housing building and affordable housing sectors and are key hires as we begin to establish our development platform."

(CM/MH)