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Sun April 18 2021

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Investment firm brings in Wates for cut-price housing

21 Oct 15 UK fund management company Octopus Investments is moving into the affordable housing market in a partnership with specialist developer QSH.

The first as Octopus QSH scheme is a development of 106 new homes in Doncaster, to be built by Wates Living Space, which is also an investor in and strategic partner of Octopus QSH.

Octopus QSH, which is majority owned by Octopus, aims to develop thousands of new homes in the next few years. Ten further schemes are already in the pipeline.

Properties on the Martindale development in Doncaster will be available through a rent-to-buy, a scheme through which half of tenants’ rental payments are put towards the deposits they need to secure a mortgage to buy their home. The homes will be managed by St Leger – Doncaster Council’s arm’s-length management organisation.

Octopus is already in the property market through Octopus Healthcare, a healthcare property fund manager and developer business, and Dragonfly Property Finance, a bridging finance company, which is also part of the Octopus group.

Octopus QSH’s management team all have social housing backgrounds, with founder and chief executive Paul Hardisty a former director at Birmingham City Council.

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