Development lending

Development of 77 student accommodation units

The finance
Octopus Property provided a 24-month, £16 million senior financing facility to Ankor Property, for the development of two Grade-A London schemes, in Ealing and Greenwich, available to students for the start of the 2017/18 academic year.
£
16m
single loan
12
month-term
63
%
LTV
Our solution
In Ealing, the scheme comprises 124 bed spaces, arranged over four floors, in a combination of self-contained studio and twin bedrooms. Just a short walk from the University of West London and well–served by Ealing’s excellent tube and train links, the scheme has been designed to a high specification and will be operated by Homes for Students, one of the UK’s most established operators.
The Greenwich scheme comprises 33 self-contained and fully-furnished en-suite studio apartments, completed to a high specification including integrated kitchen, high speed internet and wall-mounted flat screen smart televisions. Situated on Denham Street, the property benefits from its close proximity to Greenwich Docklands Light Railway and North Greenwich Tube, which provide fast access to several central London University campuses.
"Flexibility and deep understanding of the PBSA asset class was key for us to facilitate this deal for a repeat client of Octopus’. We were able to structure a very competitive package, releasing more debt day 1 by incorporating a serviced period once the assets rental income was stabilised. Additionally, we were able to view the two assets as a collective facility to allow a simple, yet certain, solution to growing the clients business and presence in the student sector."
James Gibbs
Development Originator, Octopus Property
Development lending
We work with hundreds of property developers, we know every project is different, and we are flexible to meet individual needs
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