Gavin Eustace

Octopus Real Estate lends record £57m of development finance in December

Octopus Real Estate has completed a record month for development finance, lending £57m in December 2019.

The specialist lender claimed that this was testament to its development team’s strong pipeline, reputation and relationships within the sector.

Octopus Real Estate also achieved a record month of property lending in October 2019, when it provided £127m worth of deals.

“The big cities remain an attractive investment opportunity for developments in the right location and demand is still high,” said Gavin Eustace, head of residential development at Octopus Real Estate (pictured above).

“Having spent the last decade building a business known for putting its customers first, we are known for our flexibility and speed and, as a nimble non-bank lender, we can react to the market environment and lend at times when others may not.

“The development team champions growth of the sector in order to build and bring quality real estate to the market.

“Our focus will continue to be on ensuring a strong pipeline and to lend where there is appetite from developers to build good residential properties.”

Octopus Real Estate — alongside Pure Commercial Finance — recently provided £28.3m of refinancing for UK Regeneration’s residential development site in Biggleswade, Bedfordshire.

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