£6.9m secured by sustainable housebuilder for ‘Zero Bills’ development

Octopus Real Estate has provided a £6.9m loan facility to the sustainable housebuilder Verto for a scheme in Bristol.

The facility will finance the development of 12 homes in Blagdon, Upper Langford, comprising seven five-bedroom homes and five, four-bedroom homes, all built to Verto’s exacting zero carbon specification.

All 12 properties will be eligible for the world-first ‘Zero Bills’ tariff created by Octopus Energy, the UK’s largest energy supplier, which counts Octopus Investments as one its investors.

The ‘Zero Bills’ tariff enables customers to move into homes that are fully kitted out with state-of-the-art green tech – including a heat pump, a battery and solar panels – with no energy bills guaranteed for at least 10 years.

The homes will also feature EV charging, mechanical ventilation with heat recovery, high-performance insulation, underfloor heating, triple-glazed windows and doors, and A-rated appliances.

Locally sourced materials – including FSC-certified timber frames – will also be used.

The homes have predicted EPC ratings of 110 A and the dwelling carbon dioxide rate will be up to negative 2.5 tonnes per annum per plot, compared to the average household emission rate of positive 6 tonnes per annum.

This is the third Octopus-accredited ‘Zero Bills’ site delivered by Verto and funded by Octopus Real Estate.

Jenna Hollins, investment manager, Octopus Real Estate, said: “It is the responsibility of the property finance sector to support developers as they work to deliver homes that reach the highest green standards possible. At Octopus Real Estate, we only support the development of quality, sustainable homes that are fit for the future, so we’re delighted to work with the Verto team again. They are innovative, passionate housebuilders whose ethos very much aligns with our own.

“This scheme – like their previous work – is pushing the boundaries of energy efficiency; the homes at Blagdon are large, and include a renovation, as well as units with Listed features. These characteristics make it all the more difficult and impressive to achieve such exacting standards for ‘Zero Bills’ guarantee.”

Tom Carr, co-founder, Verto Homes, said: “We’re thrilled to be working with Octopus Real Estate again on another pioneering ‘Zero Bills’ development. This partnership underscores the shared commitment we have to delivering homes that aren’t just energy-efficient, but genuinely sustainable.

“At Verto, we don’t believe in incremental change – we’re here to redefine how homes are built and lived in. This latest project in Blagdon continues that mission, proving that high-performance, net-negative carbon homes can be the new standard, not the exception. Thanks to the support of Octopus, we’re another step closer to making sustainable living mainstream.”

Nigel Banks, Zero Bills director, Octopus Energy, added: “Our ‘Zero Bills’ initiative isn’t just about building homes – it’s about redefining living, where energy bills are a thing of the past.

“Expanding this game-changing initiative with Verto brings us one step closer to a sustainable, future-proof way of life – and to our goal of 100,000 ‘Zero Bills’ homes by 2030.”