JV to develop build-to-rent housing project in Edinburgh

WCN Editorial Team 7 Mar 2017 EUROPE BUILDINGS

A joint venture (JV) between developer Moda Living and investment manager Apache Capital has struck a £215M deal to deliver a build-to-rent housing project in Edinburgh’s Fountainbridge area.

The new housing scheme has been designed by CDA architects and will feature 1,393 sq m of on-site amenity space, including a gym, communal lounges, BBQ area and roof terraces, communal gardens and a new public square.

The project will be located alongside 2,322 sq m of new build commercial space.

The Grosvenor Britain & Ireland site was bought ‘off-market’ by Moda Living and Apache Capital. The development also includes the purchase of 46 existing private rented homes.

Tony Brooks, managing director of Moda Living, said: “To work with Grosvenor, one of the world’s oldest and most prestigious property companies, has been fantastic for us and the work they have done to produce an innovative build to rent scheme set within exemplar public realm matches our own vision of delivering high-quality housing in city centre locations across the United Kingdom. We look forward to continued co-operation as we deliver Edinburgh city centre’s largest scheme of homes for rent.”

Phase one of the project is expected to be complete by the end of 2019, with overall completion anticipated in the end of 2022.

* Data provided by Timetric's Construction Intelligence Center.

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