Success for the start of 2023

Octagon Group CEO, Tim Banks, reflects on the first quarter of 2023 – from a record week of sales through to expanding the Octagon team, and what else to expect from the luxury developer in the year ahead.

“The final few weeks of March 2023 have seen unprecedented success for the team at Octagon. A correlation of events saw a spike in offers and interest – interest rate hikes seem to be steadying, inflationary pressures are starting to ease, and financial situations seem to be stabilising – all leading to renewed confidence in buyers”.

“We recently agreed nearly £12.5m worth of sales, through the reservation of 6 houses. Following this record week, the sales team are experiencing high volumes of enquiries and we’re continuing to see increased confidence in the property market. The exceptional quality of an Octagon home is something we pride ourselves on, and as result meant that we have repeat clients purchasing more than one property – sometimes within the same development!

Internally, the Octagon Group is continuing to expand, with an exciting pipeline of developments across all three brands keeping the 100+ employees busy – and even more potential new sites on the horizon.

“Since January of this year, we’ve had nine new employees, including our Group Operations Director James Silverthorne. Alongside this, we’re pleased to have expanded our land team and welcomed Alex Potter, our new Strategic Land Manager, and Joe Raimondo as Land Assistant. The addition of Alex is a new position within the Group, who is actively making offers on plots across London and Southern England.”

“Looking ahead at future schemes, we’ve recently finalised some really exciting sites that we’re looking forward to starting work on. In the last few weeks, we have exchanged contracts on a site with planning for seven new Octagon houses in Putney – a really stunning mix of accommodation in a fantastic location.”

We will soon be launching Luna Place in Esher, Surrey – a collection of 25 one- and two-bedroom apartments by Chancery Homes, part of the Octagon Group. Prices for these will start from £360,000, and some of which will offer views over Sandown Racecourse.”

“Ahead of the upcoming launch at Broadoaks Park, we’re seeing high levels of interest in the remaining homes. Restoration works on the iconic Grade II listed Mansion House have started too, and we’re extremely excited to be converting this into two super mansions filled with historical detailing, available from next year.”

“As we look ahead to the rest of 2023, the Octagon Group continues to move in a positive direction. Of course, we expect there to be a few bumps in the road, but we remain assured and excited to move forward and see continued success for the company.”

CEO