Octopus Real Estate has provided a £7.1m loan to Russell Armer by Genesis Homes for the development of a sustainable housing project in Kirkby Lonsdale, Cumbria.
The facility will finance the development of 34 new homes – 12 of which will be affordable – at Lunesdale Rise, which is an extension of the previous phase, Oakfield Park.
This project aligns with Octopus Real Estate’s mission to deliver high-quality, sustainable places to live that are fit for the future.
Jenna Hollins, investment manager at Octopus Real Estate, said: “At Octopus Real Estate, we are committed to supporting developers who strive to deliver best-in-class new homes that are clean, green, and meet local demand. This project is a great demonstration of our shared commitment to building more sustainable communities.”
John Blue, sales and land director at Genesis Homes, added: “We’re delighted to be bringing our new homes to the prestigious town of Kirkby Lonsdale, which have received an unprecedented level of interest prior to launch. Working with Octopus Real Estate provides us with the opportunity to meet the high demand in this area, and we’re excited to showcase the high specification and considered designs of our homes in the coming weeks.”
The loan was brokered by Lexi Finance.
