The 60,000 sq ft building is situated in Brentwood, Essex, and is due to come to market towards the end of 2017.
Octopus Property provided developer Quinata Global with the loan for the acquisition of the office building as well as the ongoing development.
The funding was provided despite the ongoing Brexit-related market uncertainty.
“This was a large loan on a development without pre-sales, and came together against a backdrop of acute market uncertainty in the wake of the EU referendum,” said Matt Smith, director of risk at Octopus Property.
“But it’s under these conditions that we like to think we thrive and, with the borrower being as experienced as Quinata Global, we managed to stay well within our comfort zone, providing both the acquisition and development finance.”
In August, the lender provided an £18.5m acquisition bridge to help a client purchase 50 units of a recently completed development in the South East.
Octopus Property rebranded from Dragonfly Property Finance last month.
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