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North Devon development switches to 100% affordable housing with 150 homes for local people

A 150-home Landkey development has been purchased by Octopus Capital and will now be entirely affordable, with social rent, affordable rent and shared ownership.

By The TEA Editorial Desk · 28 August 2026

Artist's impression of the Landkey affordable housing development Image: Bdaily / Allison HomesOriginal source

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All 150 homes in a new North Devon development are now set to be affordable after Octopus Capital agreed to buy the entire Landkey site from Allison Homes.

The homes will be offered through a mix of social rent, affordable rent and shared ownership, with Octopus-owned registered provider NewArch Homes becoming the long-term owner and manager.

The scheme is backed by Homes England funding and is expected to achieve EPC B energy ratings. Around six hectares of green space, play areas, new planting and wildlife are also planned.

Earlier plans had included a much smaller affordable . Converting the whole development is a sizeable shift in a county where more than 16,000 households are currently on housing registers.