Octopus Real Estate completes over £35m of green homes lending

The initiative is in partnership with Homes England and sees Octopus Real Estate offer discounted rates to developers delivering energy-efficient homes. 

The loans issued by Octopus Real Estate to four SME developers have funded the development of 124 homes in Dover, Wandsworth, Wimbledon and Tottenham. 

The project in Nonington, Dover, is for 27 homes, including six affordable properties. The site was a former factory and storage yard and will be regenerated for the development. No fossil fuels will be used to power the completed homes, as they will be heated by air-source heat pumps. 

The scheme in Wandsworth, London, includes eight apartments. The project is part of a conversion scheme where a disused building will be regenerated into energy-efficient homes. The regeneration process means less carbon will be emitted during the development. 

There are also seven apartments being developed in Wimbledon, London, which will be fitted with solar PV panels and air-source heat pumps. Additionally, a previously vacant café will be converted into housing. 

The last project is for 76 apartments and two commercial units in Tottenham, London. 

Nick White, head of development origination at Octopus Real Estate, said: “We are extremely proud of the impact our Greener Homes Alliance initiative is having on supporting developers looking to make greener decisions for their projects. Our partnership with Homes England has delivered amazing homes, meeting the highest environmental standards while having a lasting positive impact on local communities. 

“As a B Corp, Octopus Real Estate is committed to providing quality, sustainable homes, and accelerating green initiatives within the property market.” 

Some £175m was pledged through the Greener Homes Alliance and the homes must have a minimum EPC rating of B. Octopus Real Estate will offer borrowers a two per cent discount on the interest rate if the EPC rating is A.