Octopus Real Estate, part of Octopus Investments and a leading UK specialist real estate lender and investor, has provided a loan to Mitheridge Captial Management for their prime development site on Wallis Road, Hackney Wick, London. The site has detailed planning consent for the creation of a 337-unit co-living scheme, with Halcyon Development Partners acting as the development manager.
Currently, the freehold property comprises 30,000 sq.ft. of industrial warehouse space across a 0.90-acre site.
The loan was brokered by Mantra Capital and reflects Octopus Real Estate’s commitment to unlocking underutilised real estate and supporting the development of modern, vibrant places to live and work in the UK.
The planned development includes co-living studios and communal amenities, landscaped areas, and a commercial ground floor with affordable workspace dedicated to supporting the local community. Strategically located near a Zone 2 transport hub, the site offers residents convenient access to central London and nearby amenities, meeting the growing demand for co-living spaces in the capital.
James Nunn, Investment Director at Octopus Real Estate, said:
“We are intensifying our focus on lending into the living sectors in 2025, leveraging our deep expertise in this space. The demand for purpose-built co-living accommodation continues to grow, especially in major UK cities like London. This sub-sector’s strong economic resilience, high occupancy rates, and attractive rental yields make it a compelling opportunity for lenders like us, who specialise in financing transitional assets. At Octopus Real Estate, we are committed to funding developments that deliver high-quality, sustainable living spaces. Increasing the supply of co-living properties is a key part of that mission.”
This partnership underscores the ongoing evolution of the UK housing market, where innovative solutions like co-living aim to address the challenges of urban living while fostering community engagement.
