Funding / Real Estate
INVESTING Individual Investor Financial Adviser Institutional Investor FUNDING Entrepreneur Real Estate
Reading time: 1 min

Octopus Real Estate provides £21 million loan to transform site of former Shredded Wheat factory

21 Nov 2019 By Octopus Real Estate

Octopus Real Estate, part of Octopus Group and a leading UK specialist real estate investor, has agreed to provide a £21.2 million loan to Wheat Quarter Ltd to transform a brownfield site in Welwyn Garden City.

The Wheat Quarter site, the former home of a Shredded Wheat factory, has detailed planning consent which will see it transformed into a residential-led development which will include 697 residential units, 114 retirement units and 130,000 sq ft of commercial space.

Welwyn Garden City is the ideal location for a large-scale residential development given its proximity to amenities in the surrounding area, including St Albans just eight miles away and Luton Airport only 13 miles away.

The development will appeal to those looking for good commuter links to London and Cambridge – the fastest growing urban economy in the UK and the new home of Apple, Google and Microsoft1, as well as those looking to downsize in retirement, while keeping connections to the city. The resulting development will provide a lively neighbourhood for residents, with its own restaurants, bars and entertainment facilities.

Wheat Quarter Ltd was advised by specialist real estate debt advisor BBS Capital.

The last 12 months has seen Octopus Real Estate fund several large consented sites totalling £58m across the country, including in Luton, Harlow, Derby, Watford, Manchester and Limehouse.

Ludo Mackenzie, Head of Commercial Property at Octopus Real Estate, said:

“This is another significant development site for us in the UK. The Wheat Quarter development is an exciting project that will deliver over 1,300 homes. Less than half an hour train ride from London, alongside the proximity to historic market towns and an airport, gives the development mass appeal.”

John West, Wheat Quarter Ltd, commented:

“We are delighted to have concluded the refinance on the Wheat Quarter Project and to establish a new relationship with both Octopus Real Estate and BBS Capital, both of whom provide full understanding and commitment to provide an exemplar service on finance and development”.

Adam Buchler, BBS Capital, said:

“We are delighted to have enabled our client secure the funding required to move this project forward on this iconic site in Welwyn Garden City”.

Related articles

PIC invests £200 million in the UK retirement villages joint ventures with Octopus Real Estate
News
12 Jul 2022

PIC invests £200 million in the UK retirement villages joint ventures with Octopus Real Estate

Pension Insurance Corporation plc (‘PIC’), a specialist insurer of defined benefit pension schemes, today announces it is making a £200m equity investment to fund the development and operation of around 10 new retirement communities across the country. The Fund, Senior Living Investment Partners, is a joint venture between PIC and leading specialist real estate lender and investor, Octopus Real Estate
Our new partnership with Homes England, Greener Homes Alliance
News
21 Oct 2021

Our new partnership with Homes England, Greener Homes Alliance

Octopus Real Estate have partnered with Homes England, the Government’s housing delivery agency, to create the Greener Homes Alliance. The new Alliance commits £175 million, providing both loan finance and expert support to SME housebuilders, enabling them to build more high quality, energy efficient homes throughout England.
Ground-breaking Ceremony at Brendoncare St Giles View
News
1 Jul 2021

Ground-breaking Ceremony at Brendoncare St Giles View

Benjamin Davis & Michael Toft from the Octopus team recently attended the ground-breaking ceremony to mark the new care home construction of Bredoncare St Giles View in Winchester. It has been custom designed by our healthcare development team for The Brendoncare Foundation who will lease and operate the new home.
Share