UK real estate lender and investor Octopus Real Estate has provided a £22m (€25.6m) loan for the development of 400 new homes in Ashford, Kent.
Octopus Real Estate said it has completed the loan secured on a 48-acre site which forms part of a wider 140-acre mixed-use development, Waterbrook Park, being delivered by GSE Property Group and Mulberry Homes.
Dominic Gibson, investment director, Octopus Real Estate, said: “We’re delighted to have had the opportunity to work with GSE and fund this important site. As an established local employer and investor, they appreciate the acute need for high-quality housing stock and have designed a scheme that will significantly enhance the environmental and social quality of the area.
“It’s been clear from the outset of our relationship that GSE shares Octopus’ belief that investment and development should continuously improve its surrounding area. The loan demonstrates our commitment to high-quality borrowers and underlines our continued belief in the importance of supporting regional markets across the UK and Ireland.”
Darrell Healy, chairman, GSE Property Group, said: “It’s been both refreshing and enjoyable to work with a lender that fully understands our experience and our plans for the site. GSE has delivered high-quality development across the region and we’re looking forward to delivering 400 much needed new homes at Waterbrook Park.
”The Octopus team were great to work with – extremely professional and always approachable. We share Octopus’ desire for development schemes to make a positive impact on their local environments and markets, so have enjoyed establishing this important new funding relationship.”
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