Legal & General is funding Wrenbridge Sport and the City of York Council's development of the Vangarde leisure scheme at Vangarde Way, Monks Cross, York.

The £35m investment, on behalf of its Leisure Fund, will build a new state-of-the-art leisure and retail scheme at the Vangarde development.

Andrew Ferguson, Senior Fund Manager at LGIM Real Assets, said: "Good-quality leisure developments in the UK are still relatively rare. The chance to fund a brand new scheme, anchored by Cineworld, in an important growth city such as York is a great opportunity for the Leisure Fund.  This investment is also another example of how we can unlock development opportunities through our private capital by working in partnership with existing developers and with a proactive and collaborative local authority. This is a significant development for York and an important investment for the City which will create jobs and contribute to the growth of the local economy."

The scheme will comprise a new 13 screen IMAX 50,000 sq ft cinema which has been pre-let to Cineworld, as well as various restaurants and retail units.