Astral will source development sites which, when completed and let, will provide a stream of new, high quality warehouse investments for Legal & General's main life fund. The joint venture vehicle will target motorway located industrial and warehouse developments in the Midlands and South- East of England.

Astral Developments was formed in 2000 by John Cutts, Steven Ferris and Richard Saint, who were previously with Kingspark Developments and ProLogis Developments. Since its formation, Astral has developed over 1.5 million sf of distribution space.

Mark Creedy, Managing Director of Legal & General Property, said: "The joint venture continues Legal & General Property's strategy of forming key partnerships with leading players in specialist sectors to serve the needs of our investment clients. We have already developed excellent relationships with Stanhope in Central London Offices and Arlington in Business Parks and this new venture allows us to benefit from Astral's expertise in the Industrial and Warehousing sectors."