Octopus ends affordable housing partnership

by: Heather Greig-Smith
  • 21/02/2017
  • 0
Octopus ends affordable housing partnership
Octopus Property has confirmed that it has ended its joint venture with affordable housing provider QSH.

The joint venture – Octopus QSH – was launched in October 2015 with the intention of creating new homes for rent and affordable ownership. However, the parties have taken the decision to end the venture after failing to get any schemes off the ground.

Mario Berti (pictured), chief executive of Octopus Property, said: “We can confirm that Octopus QAH is no longer trading. The pipeline of development opportunities, unfortunately, did not convert as expected so the decision was taken to wind down the ‎venture.”

He added: “Octopus does not currently have any further plans to invest in affordable housing but it’s a market with significant opportunity. We wish the team at QSH all the best for the future.”

The decision to end the relationship is understood to have been made towards the end of 2016.

QSH declined to comment.

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