Octopus Real Estate funds purchase of land to develop 484-bed student accommodation, 42 affordable apartments in London

Octopus Real Estate, part of Octopus Investments and a leading specialist in U.K. real estate investment and lending, has provided a commercial loan to complete the purchase of a site located in Deptford, London.

The site has detailed planning consent for the development of a 484-bed student accommodation scheme alongside 42 affordable residential apartments.

The loan has been provided to Fosfel Apollo Limited, a joint venture between private investors including Melrose Capital and Hurlington Capital, a property investment and development company focused on the delivery of residential and mixed-use schemes across London and the Southeast. The development will comprise 248 private rooms, 81 affordable rooms and 155 studio apartments. Thirty of the affordable rooms will be classified as affordable rent, with 12 shared ownership apartments. Permission also has been granted for 17,940 square feet of retail and light-industrial space across the ground and first floors.