UK real estate lender and investor Octopus Real Estate has provided a 拢22m (鈧�25.6m) loan for the development of 400 new homes in Ashford, Kent.
Octopus Real Estate said it has completed the loan secured on a 48-acre site which forms part of a wider 140-acre mixed-use development, Waterbrook Park, being delivered by GSE Property Group and Mulberry Homes.
Dominic Gibson, investment director, Octopus Real Estate, said: 鈥淲e鈥檙e delighted to have had the opportunity to work with GSE and fund this important site. As an established local employer and investor, they appreciate the acute need for high-quality housing stock and have designed a scheme that will significantly enhance the environmental and social quality of the area.
鈥淚t鈥檚 been clear from the outset of our relationship that GSE shares Octopus鈥� belief that investment and development should continuously improve its surrounding area. The loan demonstrates our commitment to high-quality borrowers and underlines our continued belief in the importance of supporting regional markets across the UK and Ireland.鈥�
Darrell Healy, chairman, GSE Property Group, said: 鈥淚t鈥檚 been both refreshing and enjoyable to work with a lender that fully understands our experience and our plans for the site. GSE has delivered high-quality development across the region and we鈥檙e looking forward to delivering 400 much needed new homes at Waterbrook Park.
鈥漈he Octopus team were great to work with 鈥� extremely professional and always approachable. We share Octopus鈥� desire for development schemes to make a positive impact on their local environments and markets, so have enjoyed establishing this important new funding relationship.鈥�
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