Octopus Real Estate, part of Octopus Group and a leading UK specialist real estate lender and investor, has agreed to provide Matching Green with a £29.6 million loan for the ground up development of a mixed residential and commercial site in Bermondsey, London.
Full planning permission has been granted for the development of 111 apartments, plus six commercial units, located at the prime London location. The apartments will be comprised of a mix of one, two and three-bedrooms, including 42 affordable apartments, while the six commercial units will cover 11,800 sq ft.
The site is located in Bermondsey, only a 20-minute walk from the City of London and close to good transport links providing good connections within London and to the regions, with Bermondsey Underground station just a 7-minute walk and London Bridge Station 20-minute walk.
Gavin Eustace, Head of Residential Development at Octopus Real Estate, said:
“The strong location of this scheme makes it an attractive choice for both residential and commercial development. The commuter links and the proximity to The City of London will make the development an appealing option to future residential and commercial tenants. London remains an attractive investment opportunity for developments and demand is still high.”
James Allen, Owner of Matching Green, commented:
“We are delighted to have secured lending from Octopus Real Estate, whose practical and flexible approach has allowed us to take further steps towards the development of this exciting project. Neighbourhoods in London such as Bermondsey continue to be sought after locations for residents and businesses, and so we believe this development will provide us with an opportunity to meet the needs of both.”
-Ends-
For journalists in their professional capacity only. Personal opinions may change and should not be seen as advice or a recommendation. Octopus Real Estate is the trading name of Octopus Property Lending Ltd (Reg No 7531926), Bridgeco Ltd (Reg No 6629989), Fern Trading Ltd (Reg No 6447318), Nino Ltd (Reg No 9015082), Octopus Healthcare Adviser Ltd (Reg 09082100), Octopus Healthcare Development Ltd (Reg No 03788979) and Octopus Co-Lend Limited (Reg No 8913299), all registered in England & Wales at: 33 Holborn, London, EC1N 2HT, and Octopus Real Estate S.ar.l. (Reg No B189290) registered in Luxembourg at: Parc d’Activité Syrdall, 6 rue Gabriel Lippmann, L-5365 Munsbach, Luxembourg. Octopus Co-Lend Ltd, Octopus Healthcare Adviser Ltd and Octopus Property Lending Ltd are authorised and regulated by the Financial Conduct Authority. Issued by Octopus Real Estate. Issued February 2020.