Harrogate-based Moda Living, a joint venture between Yorkshires Caddick Group plc and Generate Land, and the developer and operator behind one of the UK’s largest regional Private Rented Sector (PRS) portfolios, is celebrating a trio of recent successes on landmark PRS developments in Birmingham, Liverpool and Glasgow.
The achievement marks the culmination of a prosperous year for the company, which aims to build lasting communities through shared facilities and onsite management who activate the spaces and run weekly events.
Last month, Moda Living announced plans for a £154 million PRS residential tower for Birmingham city centre, transforming a 0.77-acre site into a premium purpose-built rental development on Broad Street, Birmingham.
Marking one of Birmingham’s largest post-Brexit property transactions, the 37-storey tower will comprise 466 high-specification apartments, approximately 30,000 sq. ft. of dedicated communal amenity space and approximately 35,000 sq. ft. of retail, office and leisure space, creating a new central destination for Birmingham.
This announcement was followed soon after by the news that the company had secured planning consent for its premium £82 million waterfront rental community, ‘The Lexington’ in Liverpool’, its first major project in the city.
Named after the building’s New York-inspired design, the 34-storey Lexington forms part of the Peel Group’s £5.5 billion Liverpool Waters regeneration masterplan and will be the tallest residential landmark in the Liverpool Waters, featuring 304 high-specification apartments.
Most recently, Moda Living also announced plans to redevelop the former Strathclyde Police HQ in Glasgow into Scotland’s first major build to rent development. The £105m development of 365 apartments will also feature more than over 20,000 sq ft of ancillary ground floor space including cafes, restaurants, workspace and gardens.
Tony Brooks, Managing Director at Moda Living, commented: “Our recent successes in these three major UK cities are testament to our ambition to become the UKs leading developer and operator rental brand and a key indicator of the strength of the PRS market.
“As we continue to expand our PRS portfolio, we are closer to realising our vision to change the face of regional city centre renting and bring to market a best-in-class UK wide rental platform offering a lifestyle choice not currently available outside of London.
“It is a very exciting time for the company and with more projects in the pipeline, we look forward to more successes in 2017.”
Since the company’s formation in late 2014 it has established a PRS development pipeline comprising approximately 5,000 units located in prime city centre sites across the UK’s major regional cities with an end GDV of £1 billion.