17 Oct, 2023: Octopus Real Estate, a prominent UK specialist real estate lender and investor within the Octopus Investments group, has granted a £53.5 million development loan to facilitate the construction of 278 apartments in Birmingham.
The loan is extended to the UK based commercial and real estate property developer, Investin PLC, to support the development of 278 apartments, comprising 75 one-bed units and 203 two-bed units. This project aims to contribute a substantial quantity of essential, top-tier residences to the local vicinity and als to be an integral component of the broader revitalization initiative in Birmingham's Southside area.
The programme, spearheaded by Birmingham City Council, aims to enhance connections between New Street Station and the Southside district while also fostering the overall development of the region through the implementation of cycling routes, easily accessible walkways, and adaptable public areas.
Commenting on the establishment of new homes, Nick White, Head of Development Origination, Octopus Real Estate said in the company’s official press release, “The development lending team at Octopus Real Estate has been focused on supporting quality developers that have a passion for supplying top-of-the-range homes. We are pleased to be working with Investin PLC, as they embody these qualities and share our mission to help to solve the UK’s housing shortage by providing quality, sustainable homes for all stages of a person’s life. By repurposing brownfield land, we are working together to revive a disused site, whilst also protecting the green local area. This is vital for stimulating growth and helping the local area reach its full potential.”
Roger Lal, Director, Investin PLC, added, “As planning and regeneration specialists, we actively seek out and act on only the very best development opportunities. We place great emphasis on delivering quality homes of the highest order, so it’s great to be able to work with a lender who is so aligned with our own mission.”
This substantial investment not only addresses the pressing need for housing in the area but also underscores the confidence in Birmingham's economic prospects. As the project unfolds, it promises to bring about a positive transformation in the city's landscape, providing new opportunities for residents and contributing to the region's prosperity. With Octopus Real Estate's dedication to this project, the future of Birmingham's housing market looks bright, and this initiative is a testament to the city's attractiveness as a hub for real estate investment and urban development.