The 12-month term facility was used to refinance the client’s existing debt — which was taken to acquire the site and secure planning permission — and provide funds to prepare the site for development.

The consented scheme will deliver 360 open market units and 40 affordable houses, as well as a community hub, farm shop, café and a co-working facility.

It will also incorporate a new wetland and a large-scale reed bed to generate nutrient neutrality across the site, ensuring the development does not add to existing nutrient burdens on the surrounding water environment. 

Wider landscaping will provide significant green space, with hundreds of mature trees being planted around the site’s perimeter.

The site forms part of a wider 140-acre mixed use development, Waterbrook Park, being delivered by GSE Property Group and Mulberry Homes.

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Dominic Gibson, investment director at Octopus Real Estate, said: “We’re delighted to have had the opportunity to work with GSE Property Group and fund this important site. 

“As an established local employer and investor, it appreciates the acute need for high-quality housing stock and have designed a scheme that will significantly enhance the environmental and social quality of the area. 

“It’s been clear from the outset of our relationship that GSE Property Group shares Octopus’ belief that investment and development should continuously improve its surrounding area. 

“The loan demonstrates our commitment to high-quality borrowers and underlines our continued belief in the importance of supporting regional markets across the UK and Ireland.”

Darrell Healy, chairman at GSE Property Group, commented: “It’s been both refreshing and enjoyable to work with a lender that fully understands our experience and our plans for the site. 

“GSE Property Group has delivered high-quality development across the region and we’re looking forward to delivering 400 much-needed new homes at Waterbrook Park. 

“The Octopus team was great to work with — extremely professional and always approachable. 

“We share Octopus’ desire for development schemes to make a positive impact on their local environments and markets, so have enjoyed establishing this important new funding relationship.”