octopus real estate

Octopus Real Estate lends £16.5m for sustainable housing schemes in Cambridgeshire and Worcestershire

Octopus Real Estate has provided two loans totalling £16.5m to WElink Homes for the development of two residential schemes in Witchford, Cambridgeshire and Pershore, Worcestershire.

The facilities, agreed on 20-month and 24-month terms respectively, will facilitate the delivery of 121 private and affordable homes — 46 in Witchford and 75 in Pershore.

WElink Homes will use off-site manufacturing technology to deliver the properties in order to reduce build times and construction waste.

The sustainable homes — which are designed to achieve an A EPC rating — will use rooftop solar photovoltaic renewable energy and will be super insulated to lower carbon, energy demand and cost.

Andy Scott, head of residential development at Octopus Real Estate, said: “The UK has a chronic undersupply of sustainable homes, and within the industry we have a duty to work together to develop more energy-efficient housing. 

“At Octopus, we recognise the importance of thinking outside the box when it comes to building homes for future generations.

“These latest developments are a great example of our wider mission at Octopus to invest in assets which will deliver real impact to people and the planet. 

“The use of modern methods of construction (MMC) has a direct impact on the sustainability and carbon content of a project, and we’re thrilled to be involved in a project that offers greater social value than is the norm.” 

David Ritchie, CEO at WElink Homes, commented: “Our goal is to redefine the building of new homes; creating living spaces that perform for people, embrace new technology, and are delivered at pace. 

“These sites in Witchford and Pershore, as with all our developments, will benefit from high-quality design and architecture and leading energy performance and manufacturing excellence with incredibly high levels of quality and precision thanks to our innovative MMC delivery model.

“I’m delighted that Octopus has funding that enables us to finance developments like these.

“Our homes, as well as the processes we use for delivering our homes, have been carefully designed to reduce energy demand and address affordability for homeowners, so

Octopus was the natural choice for us thanks to its B Corp status and strong focus on sustainability.”

Last year, Octopus has partnered with Homes England to create the Greener Homes Alliance, which will commit £175m to provide loans and expert support for SME housebuilders to help them build more high quality, energy efficient homes throughout England.

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