Winner of Debt Advisor of the Year in the Real Estate Capital 2017 Awards London:

Quartet of Octopus deals grow regional lending by £35m

Specialist property lender Octopus Property has completed four loans worth a combined £35.2m across separate developments in Birmingham, Derby, Manchester and Edinburgh.

Octopus backed the acquisition of DRI hospital for a resi-led redevelopment

The four transactions are:
• A six-month, £11.3 m acquisition loan to the Canal & Riverside Trust for a Birmingham office campus with permitted development. Half the campus has consent for 250 residential units with the remaining 45,000 sq ft of office space let to HMRC & Environment Agency for a further nine years


• A 12-month, £8.2m loan for the acquisition of the old Royal Infirmary in Derby by Nightingale Derbyshire. The property comprises a cleared site of 18.5 acres, with outline planning permission for up to 500 residential units

• A 12-month, £5.7m loan to support the acquisition of a 135 bed Holiday Inn Express. The hotel is located on a recently developed sports campus between Liverpool and Manchester

• A nine-month, £10m loan for Edinburgh Marina’s acquisition of six freehold plots that form part of the Granton Harbour Estate in Edinburgh. Totaling 19 acres, planning consent has been granted for a mixed use scheme with residential, hotel and retirement living units surrounding a 340 berth marina.

The deals represent Octopus Property’s biggest lending spree outside of London and the south east to date. Ludo Mackenzie, head of commercial property at Octopus Property, said: “As we grow the Octopus Property business it is our intention to substantially increase lending activities beyond our original core markets of London and the South East. While we have always been a national lender, we are now regularly seeing high quality opportunities to back talented investors and developers in the regional markets.”

Sirius Private Clients acted as broker on the Birmingham transaction. BBS Capital acted as broker on the Derby transaction. John Charcol acted as broker on the Edinburgh transaction.

View the article on Property Week

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