Build to rent specialist to construct new £258m neighbourhood
Harrogate-headquartered Moda Living, a developer, operator and owner of private, build-to-rent (BTR) homes, is to go live with its plans later this month to deliver a new 720-home build-to-rent community.
It will be located on Great Charles Street, in Birmingham.
This pushes the company’s UK-wide pipeline to more than £2.5bn and 7,500 rent-only homes. Following the December start of the 515 home New York Square in Leeds and this month’s start on 500 homes in Edinburgh, the family backed BTR company, now has £850m worth of live schemes under construction across the UK.
Subject to planning, this will be Moda’s second site under development in Birmingham – the first being ‘The Mercian’ which at 42 storeys is Birmingham and the Midlands’ tallest residential tower under construction.
The Great Charles Street development takes its cue from the character and architecture of Birmingham’s Jewellery Quarter.
Moda says it will cater for young professionals, downsizers, sharers and families. Residents will have access to a host of on-site amenities focused on mental and physical health and wellbeing, such as gyms, communal lounges, roof terraces, green spaces, workspace – all included within the rent.
And to challenge the current rental market, Moda will offer deposit-free, pet friendly renting with secure yet flexible tenancies of up to three years.
Tony Brooks, managing director at Moda, said: “We are thrilled to progress with our Great Charles Street development, our second site in a city we love.
“We strongly believe our product is helping cities across the UK to be great places to live, work and invest in, but also to thrive in – and we want to offer a unique way of living to the people of these places for years to come.
“At Moda we are certain that service must no longer be seen as a premium but instead as the uncompromising core of our offer. The local authority has been fantastic in helping to guide us on our journey.”
Moda opened its flagship 35-storey neighbourhood, Angel Gardens, in Manchester in October last year, as well as starting on site at the 515 home New York Square, Leeds.
Further construction is also underway at The Lexington in Liverpool, a 34-storey tower on Liverpool Waters that will deliver another 325 homes. With further projects across the UK in varying stages of design, planning and development, Moda is on target to be opening 125 homes a month by the end of 2021.
Moda is part of the Yorkshire-based family-run Caddick Group, which also includes Caddick Construction and Caddick Developments, which reported a record turnover of over £200m last year.
