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The bond issue, set to take place on August 11 2021, comes as Berkeley brings forward 29 of the most complex and challenging regeneration sites in the country. These projects include vast neglected spaces, like disused gasworks or industrial estates, which offer little social value to the communities around them.

These sites are being carefully remediated and transformed into unique and welcoming places, with a mix of homes and community amenities.

Richard Stearn, Chief Financial Officer, Berkeley Group, said:

"We have been delighted by the strength of institutional demand for our debut issue of green bonds. This demonstrates that investors recognise the resilience of Berkeley's unique long-term operating model and, through our new Green Bond Framework, the value to the wider environment of our regeneration activities.

"It takes many years of patient place-making to stitch these vast spaces, once cut off from their local communities, back into the local fabric, and bring them to life with the right mix of homes, public amenities, parks and open spaces. This is inherently sustainable and relieves pressure on greenfield land."