L&G champions independent business

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. 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-termfootfall.

An independent mix

The carefully curated and diverse line-up includes Eight Hours, the new concept from the owners of Bône; Brass Monkey, Brighton’s cult ice cream shop and Morocco Bound, the Bermondsey third space blending literature and live events. These sit alongside a handpicked selection of independent restaurants and cafés, grocery and food operators, fitness and wellness studios, beauty and grooming

Confidential services, childcare, pet care, creative studios, recording space, coworking and Duck Pond Market, a weekly design and makers’ market. Together, the mix is designed to support the rhythm of residents’ everyday lives, while giving the wider Wandsworth community new reasons to visit throughout the week.

New Acres Studios will open imminently with eight makers’ labs alongside Forma by FOUNDRY, which is comprised of 13 wellness practitioner studios, creating space for smaller independent businesses to design, make and offer one-to-one services within the wider New Acres neighbourhood.

Beyond a traditional retail offering, New Acres will host a programme of events and experiences, including ice cream making, live music and poetry, cheese tastings, plant doctor workshops and pottery classes. The programme is designed to encourage regular visits from residents, the local community and wider London.

Denz Ibrahim, Head of Futuring & Place, L&G, said:

“As the Build to Rent model goes from strength to strength, future-proofing the sector is imperative. We believe the ground floor retail space in residential developments acts as the connective tissue that transforms a collection of buildings into a neighbourhood and community. Against the backdrop of an ever-shifting and crowded market, this is a key differentiator for our BTR schemes, and part of our mission to deliver long-term value for investors.

“This is very different from traditional approaches, where commercial space is often treated as something to fill. By curating the right mix of brands and experiences, and actively supporting them to grow, we are creating a neighbourhood that performs as a place, not just a collection of units.”

Adam Burney, Head of BTR & PBSA, L&G, said: “As the BTR sector continues to grow, future-proofing our assets to ensure long-term resilience is imperative. Our focus is on delivering high-quality homes at scale, while taking a long-term approach to how those homes sit within their wider environment. By integrating retail, workspace and public realm into our BTR schemes, we can strengthen resident experience, support leasing performance and create more resilient assets that perform well over time.”

Building better communities

New Acres builds on the success of L&G’s Kingland scheme in Poole, Dorset, where curation and placemaking were central to the planning and design of the high street. Ten independent businesses were offered a significant rent reduction alongside support as part of a three-year scale-up plan, creating a template for the high street of the future.

Since opening in 2021, Kingland tenants have turned over £3.4 million, more than 1,500 independent local brands have launched in the town centre across market stalls and boutique shops, and over 30 jobs have been created. At launch, the revitalisation of Kingland high street resulted in increased footfall by 16% ahead of its pre-pandemic trend, benefiting existing operators as well as start-ups.

At launch, the independent brands located at New Acres include:

• Food & Beverage: Happy Face Pizza, Brass Monkey, Tapas Room, Slow Morning Coffee,

Singing Pig, Avo Man, Loco Lime, Beringers and Eight Hours, the new concept from Nas

Sharif’s BôneConfidential

• Wellness: Reco HQ, The Move Method, Réme House Pilates, Glo Wandsworth, Curfew

Grooming and Sangha Studios

• Experiences & Amenities: FOUNDRY, Morocco Bound, Mud Gang, Duck Pond Market,

Hosef, Pedal Back, Another Planet, Brothers Green and EcoVets

New Acres Studios sits alongside the independent brands located at Wandsworth. Launching

imminently, this will include:

• Forma: 13 wellness practitioner studios offering discreet 1:1 spaces for therapists, tattoo

artists, aestheticians and more

• New Acres Studios: 16 makers labs where designers, creators and artists can operate from

a private space

• Recording Studios: Two studios designed exclusively for recording podcasts and audio

content

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