Top 40 law firm Trowers & Hamlins has advised Octopus Real Estate on the launch of its affordable housing strategy through the acquisition of a registered provider in a move that will see further investment in the affordable housing space.
The Octopus group has said that it will work with housing associations and bring in long-term capital to fund the delivery and long-term ownership of new homes and will operate a direct let model, rather than a lease-based model with associations, to ensure fair risk-sharing with partners.
The acquisition allows Octopus to access a government grant through the £11.5bn Affordable Housing Programme to support the delivery of new homes.
Tim Nye, Partner and Head of Corporate at Trowers commented:
"This is a significant move for Octopus Real Estate as it ventures into the affordable housing space. We are pleased to have been able to have advised on the acquisition as it will enable Octopus to fund the development of high-quality energy efficient homes at a time when delivering affordable housing is more important than ever."
