L&G has launched a fully let independent neighbourhood at New Acres, its 1,034-home residential neighbourhood in Wandsworth, bringing together homes, retail, workspace and market space in a way that is designed around residents’ day-to-day needs. The mix combines convenience, experience and local relevance, while supporting independent businesses and attracting visitors from the wider community.
The launch forms part of L&G’s blueprint for the future of retail, reflecting shifts in the retail market and growing demand for places that combine convenience, experience and local relevance. L&G plans to replicate the approach at future developments in Belfast, Birmingham and Cardiff. At New Acres, this approach is delivered through a carefully curated commercial offering, drawing on expertise across innovative retail, start-up, design and culture to shape the mix. Where many residential developments still struggle with vacant or underused commercial space, New Acres treats retail and workspace as a core part of the residential offer from day one – helping to activate the street level, support sustained footfall and strengthen long-term appeal.
In the year leading up to commercial launch, FOUNDRY, L&G’s co-founded coworking business, was introduced at New Acres as a catalyst for the wider placemaking strategy, creating an early hub for businesses, residents and the wider community to shape the future of New Acres. This approach is complemented by a three-year kick-starter rental package combining performance-linked rents and units delivered to a “white box” specification for ease of personalisation and branding, alongside access to business, marketing and digital support through FOUNDRY. One year on, FOUNDRY is 90% occupied with c.300 members, demonstrating strong early demand for workspace and community-led provision.
This momentum translated into strong commercial performance, with New Acres fully let across 50,000 sq. ft of commercial space at launch, a rare outcome for a development of this scale and an early proof point that a curated, demand-led model can support both resident appeal and long-term footfall.
Beyond its retail and workspace offer, New Acres will host a programme of events and experience designed to encourage regular visits from residents and the wider community.
