Octopus Real Estate, part of Octopus Investments and a leading UK specialist real estate lender and investor, has provided a £22.4m loan on a development of 64 residential houses in Buckinghamshire.
The development loan, provided to MCR Property Group last month, has a 24-month term and will finance the creation of 49 private homes and 15 much-needed affordable homes.
The Eighth Avenue development in Aylesbury will comprise high-quality homes targeting an Energy Performance Certificate (EPC) rating of B (SAP Score 85-91) through the use of air source heat pumps and EV charging points.
MCR Property Group will be minimising its carbon usage throughout the build by sourcing local materials to reduce the development’s carbon footprint. The scheme will also retain the majority of the existing mature trees on the site and plant new trees to result in an overall net gain of trees in the development’s area.
Andy Scott, Head of Residential Development, Octopus Real Estate, commented:
“At Octopus Real Estate we love partnering with developers who share our vision to reimagine real estate by providing quality sustainable homes. We value MCR’s commitment to making green decisions whilst delivering new homes that will have a positive impact on the local community and we look forward to seeing the completed scheme.”
David Tracey, COO of MCR Property Group, added:
“Having worked with Octopus Real Estate before, we were positive they were perfect partners to support us on this development. At MCR, we aim to create homes and neighbourhoods that are designed with the future in mind; homes where people love to live. We have a rich and varied history in the housebuilding sector and are committed to making a positive and lasting impact in the areas in which we work – an aspiration we believe will undoubtedly be carried through here at Aylesbury.”