Octopus Property

Octopus Property agrees to provide £35m of commercial loans



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Octopus Property has agreed to provide four commercial loans worth a total of £35.2m to borrowers in Birmingham, Derby, Manchester and Edinburgh.

The specialist property lender has completed the loans as it continues to grow its loan book exposure outside of London and the South East.

The four transactions are:

  • A six-month, £11.3m acquisition loan for a Birmingham office campus with permitted development. The property occupies a site of around four acres with half the campus having planning consent for 250 residential units, with the remaining 45,000 sq ft office space being let to HMRC and Environment Agency for a further nine years
  • A 12-month, £8.2m loan for the acquisition of the old Royal Infirmary in Derby. The property comprises a cleared, 18.5-acre site, with outline planning permission for up to 500 residential units
  • A 12-month, £5.7m loan to support a repeat borrower’s acquisition of a 135-bed Holiday Inn Express. The hotel is located on a recently developed sports campus between Liverpool and Manchester and will be added to the investor’s portfolio of branded hotels.
  • A nine-month, £10m loan for the acquisition of six freehold plots that make up part of the Granton Harbour Estate and will become the heart of the new Edinburgh Marina development. The site totals around 19 acres and has planning consent for a mixed-use scheme comprising residential, hotel and retirement living units surrounding a 340-berth marina.

Sirius Private Clients acted as broker on the Birmingham transaction, BBS Capital acted as broker on the Derby deal, while John Charcol acted as broker on the Edinburgh acquisition.

“As we grow the Octopus Property business, it is our intention to substantially increase lending activities beyond our original core markets of London and the South East,” said Ludo Mackenzie, head of commercial property at Octopus Property (pictured above).

“While we have always been a national lender, we are now regularly seeing high-quality opportunities to back talented investors and developers in the regional markets.”

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