Octopus Capital backs world’s largest 'zero bills' housing scheme

Octopus Capital is supporting a groundbreaking sustainable housing project in Essex, set to be the world's largest 'Zero Bills' scheme.

Carpenters Yard

The 113-home development, Carpenters Yard, located in Epping Forest, is being built by gs8. Octopus Capital is funding gs8's work through a £20 mln (€23.5 mln) loan via its Greener Homes Alliance, launched in April of this year. This marks Octopus Capital’s second strategic collaboration with Homes England. The Greener Homes Alliance incentivizes SME developers to construct more sustainable homes by reducing financing costs for green projects.
Gs8 has partnered with Octopus Energy to create a ‘Zero Bills’ community, guaranteeing residents no home energy bills for at least 5-10 years. Each home features a heat pump and solar panels, with energy stored, managed, and shared through a centralized battery system.
The development aligns with gs8’s ‘Planet Positive Framework,’ adhering to zero waste principles and designed to store more carbon than it creates over its lifetime. Carpenters Yard includes shared spaces like landscaped gardens, allotments, and a new community hub. It will also offer an electric car and bike club, and a communal DIY and reuse centre.
Octopus Affordable Housing will acquire 35 of the 'Zero Bills' homes through NewArch Homes, its for-profit registered social housing provider. This will reduce living costs for residents while cutting carbon emissions.
This acquisition follows the recent news of the strategy raising an additional £118 mln (€138.6 mln), bringing total commitments to over £360 mln (€423.2 mln). The strategy now has more than 500 affordable homes across the UK, with a further 400 in the pipeline, providing safe, high-quality housing to over 2,000 residents.
Jack Burnham, head of Affordable Housing at Octopus Capital, said: “This acquisition demonstrates the powerful role long-term capital can play in transforming housing. By combining institutional investment, government-backed finance, and cutting-edge homebuilding innovation, we’re proving that affordability and sustainability can go hand in hand. Our ‘Zero Bills’ investment is not just a first for the sector – it’s a glimpse into the future of housing.”
Josh Gordon, co-founder at gs8, added: “At gs8, we are driven by a clear purpose that housing should have a positive impact on people, place, and planet. This partnership with Octopus Capital and Octopus Energy brings that vision to life. Together we’re proving that sustainable innovation doesn’t have to come at a premium – it can set a standard for how homes are built and lived in for generations to come.”