Octopus Real Estate

Octopus provides £9.7m development finance for residential projects

Octopus Real Estate has agreed to provide £9.7m of development finance for projects in Uxbridge and Bristol.

The west London project involved a loan of £5.8m to Kings Oak Brunel LLP for an office-to-resi conversion comprising 28 apartments: 16 one-bedroom and 12 two-bedroom apartments.

The £3.9m loan for the Bristol scheme will be used for the site purchase and ground-up development of 19 apartments and two commercial units.

Gavin Eustace, head of residential development at Octopus Real Estate, said: “We always enjoy working with experienced developers [and] helping their development projects become a reality.

“Where there continues to be demand for development finance from our clients, we will continue to support and lend.”

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