Octopus Investments has launched an affordable housing business to deliver housing schemes across the UK, which includes a first scheme of 106 new homes in Doncaster.
The business – a joint venture with the affordable housing developer QSH, in which Octopus will own a majority stake – will initially trade as Octopus QSH. It aims to develop thousands of new homes in the next few years.
Mario Berti, head of the specialist finance team at Octopus, said: “There is a chronic shortage of affordable housing in the UK, which presents a huge opportunity for Octopus QSH. The government desperately needs to create more homes to meet its policy objectives and we will be providing innovative solutions to local authorities and housing associations to help solve this problem.
“The launch of Octopus QSH sees Octopus build on its successful track record of entering markets where we can really make a difference.”
Work is starting on Octopus QSH’s first development in Doncaster, which will include 106 two-, three- and four-bedroom homes, all of which will be available through QSH rent-to-buy.
Tony Larkins, managing director of Cambridgeshire-based Beacon Wealth Management, said: “There is certainly demand for housing, and I would have thought that Octopus is expecting house prices to increase.”