Octopus Real Estate development team lends £57 million in December 2019
Octopus Real Estate, part of Octopus Group and a leading UK specialist real estate lender and investor, has completed a record month lending £57 million of development finance in December 2019.
The development team led by Gavin Eustace set the record in a month which is widely acknowledged as a challenging month for lending. The record is testament to the development teams’ strong pipeline and the strength of its reputation and relationships within the sector.
Recent deals have included residential development and PBSA projects across the country including London, Glasgow and Birmingham, as well as smaller regional deals.
Gavin Eustace, pictured, Head of Residential Development at Octopus Real Estate, said:
“The big cities remain an attractive investment opportunity for developments in the right location and demand is still high. 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.”
The last 12 months have seen Octopus Real Estate set new lending records. The business completed £127 million of deals in a record month of property lending in October 2019.