Elivia Homes, a prominent homebuilding company, has successfully secured a £100m revolving credit facility (RCF) from Octopus Real Estate. This substantial financial arrangement is set to provide a robust platform for Elivia Homes’ ambitious growth plans, with a target to increase its homebuilding capacity from 300 to 1,000 homes annually.

The new RCF complements the existing £200m shareholder facility, enhancing the company’s financial foundation. This strategic financial boost is pivotal for Elivia Homes, allowing it to solidify its presence in its current regions of operation and to explore further expansion opportunities.

Iain Brown, CFO at Elivia Homes, expressed his enthusiasm about this crucial development, acknowledging the significance of securing additional capital under an improved security structure. This funding is expected to power the company’s growth objectives over the coming three years. Brown also extended gratitude to Barclays, NatWest, and Santander for their ongoing support to Elivia and its sister company, Millwood.

Chris Chiles, CEO of Elivia Homes, highlighted that the new agreement is instrumental in advancing the company’s mission to deliver its unique product and service offerings to a broader customer base. The funding will catalyse investment in land acquisition, digital technologies, and sustainable innovations, scaling Elivia’s operations and leveraging market opportunities in all three regions where it operates.

Andy Scott, head of development lending at Octopus Real Estate, commented on the partnership, noting Octopus Real Estate’s commitment to innovating in the real estate lending and investment sector. Scott lauded Elivia Homes for its track record in delivering high-quality housing and expressed excitement at supporting the company with a bespoke facility as it progresses towards its goal of constructing 1,000 new homes per year.