The facility signifies a significant milestone for Elivia as it pursues its expansion strategy from 300 to 1,000 homes per year.
The new RCF builds on the considerable £200m shareholder facility already in place.
It also positions the company strategically to cement its foothold in the three existing regions where it operates and extend its reach even further.
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Iain Brown, CFO at Elivia Homes, commented: "This marks a crucial milestone for the business, and we are thrilled to have secured up to £100m in additional capital under an improved security structure.
“This funding will furnish the business with the capital necessary to realise our ambitious growth plan over the next three years, and we extend our gratitude to Barclays, NatWest, and Santander for their steadfast support to Elivia and Millwood over the years.”
Chris Chiles, CEO at Elivia Homes, added: “This new agreement will serve as a key building block in our pursuit of delivering Elivia’s differentiated product and service to a wider range of customers.
“This funding will enable increased investment in land, digital technologies and sustainable innovation, scaling the Elivia platform and taking advantage of the market opportunities across all three regions.”
Andy Scott, head of development lending at Octopus Real Estate, concluded:
“Here at Octopus Real Estate, we’re on a mission to reimagine real estate lending and investment.
“This facility marks our latest product innovation into the core residential sector — Elivia have been delivering high quality housing for a number of years, and we’re delighted to be able to support them with a bespoke facility as they embark on the next stage of their growth towards building 1,000 new homes per year.”
Pictured above L-R: Kamal Singh Grewal, COO at Elivia Homes, Chris Chiles CEO at Elivia Homes, Iain Brown, CFO at Elivia Homes