Octopus Capital has agreed a forward-funding deal with Bellway Homes to support the delivery of 128 affordable homes across three new-build developments in Kent and East Sussex.
The investment, which has been made through the Octopus Affordable Housing Fund (OAHF), will fund the delivery of schemes in Iwade, Kent, and Hailsham and Bexhill in East Sussex.
The developments will offer a broad mix of accommodation, ranging from one-bedroom flats to four-bedroom family houses. Of the new homes, 89 will be available for rent and 39 for shared ownership.
All homes will be developed by Bellway Homes and transferred on a freehold basis to NewArch Homes, Octopus Capital’s for-profit registered provider of social housing.
Ellie Vlavianou, investment director at Octopus Capital, said: “This deal marks an important milestone for our affordable housing strategy. Partnering directly with Bellway for the first time allows us to deploy capital at scale, regionally to support the delivery of high-quality affordable homes where they’re needed most.”
Dan Brady, group affordable housing director at Bellway Homes, added: “Working with Octopus Capital on this forward-funding deal enables us to bring forward a substantial number of high quality affordable homes across Kent and East Sussex. These developments will provide a diverse mix of homes for rent and shared ownership, helping meet local housing need and giving more people access to well-designed, energy efficient homes in places where demand remains high.”
