Octopus Real Estate, part of Octopus Investments and a leading UK specialist
real estate investor and lender, 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 South East. The development will
comprise 248 private rooms, 81 affordable rooms and 155 studio apartments. 30
of the affordable rooms will be classified as affordable rent, with 12 shared
ownership apartments. Permission has also been granted for 17,940 sqft of
retail and light industrial space across the ground and first floors.

The borrower has appointed Allford Hall Monaghan Morris, a well-regarded and
award-winning London Architect, to design the development. The scheme is
located within 15-minute walk of both Surrey Quays and South Bermondsey train
stations, and residents will be within a 20-minute journey to London Bridge.

James Nunn, Octopus Real Estate, said:

“Demand
for student housing continues to far outstrip supply, particularly in London
where close to 70% of students in the capital are unable to access
purpose-built accommodation. At Octopus Real Estate we’re pleased to be playing
our part in helping meet this demand, by providing tailored and specialist
funding for transitional assets.”

Jamie Feldman, CEO of Hurlington Capital, said:

“We’re
delighted to have worked with Octopus Real Estate on this transaction. There is
an acute need for purpose-built student accommodation in London, and we’re
excited to deliver this project, which will provide hundreds of students with
housing in an up-and-coming and well-located area.”