Octopus Real Estate enters affordable housing market
Octopus Real Estate has entered the U.K. affordable housing market.
Octopus will work with housing associations and local authorities to help alleviate the pressures by providing long-term, patient capital to the sector to fund the delivery and long-term ownership of new homes.
To support its move into the sector, Octopus has acquired a Registered Provider (RP) of Social Housing, and will operate a direct-let model – rather than lease-based – to ensure a fair sharing of risk with its partners. The acquisition of the RP will ensure Octopus is subject to appropriate regulatory oversight and enables the company to draw on grant funding to support the delivery of new homes.
“We are launching an Affordable Housing strategy now because the current cost of living crisis is rapidly increasing the already urgent need for quality, genuinely affordable homes,” said Benjamin Davis, CEO, Octopus Real Estate. “The costs of decarbonization, as well