M&G also plans to invest up to £500m over the next three to five years in sustainable new developments of private and affordable housing, in partnership with Greencore.

Greencore has established an innovative modern method of construction which uses a closed panel timber frame, manufactured off-site and insulated with natural materials such as hemp, lime and wood-fibre which allows it to build high quality and energy efficient homes.

The investment will help Greencore significantly expand its capacity and increase its impact across the UK.

The Macfarlanes team was led by corporate and M&A partner Jessica Adam with assistance from solicitor Andrew Wheelhouse.

Commercial expertise was provided by partner Malcolm Walton, senior solicitor Rosie Duckworth and solicitor Harrison Clark and real estate advice came from partner Tom Pedder and solicitor Emily Chandler. Construction advice was provided by partner Angus Dawson and senior solicitor Shane O’Neill, employment advice came from partner Hayley Robinson and tax expertise was provided by partner Jeremy Moncrieff and senior counsel Sarah Shucksmith.