Moda Living, a leading developer and operator of homes for rent, and joint venture partner Apache Capital have secured planning permission for the final phase of its £215m Springside development in Edinburgh. Block E, a six-storey building that will overlook Dundee Street and Drysdale Road, will include 139 high quality apartments designed exclusively for rent, ranging from studios to three-beds in size with ground floor amenity space including a lounge and co-working space. In total, Springside will provide 476 homes with 13,000 sq. ft. of internal amenities, including communal lounges, health and wellbeing facilities plus roof terraces and a private dining room with unique views of Edinburgh Castle, as well as fully managed communal gardens.
Moda and joint venture partner Apache Capital purchased the Springside site, which included 48 existing homes, in March 2017 from Grosvenor Great Britain and Ireland, one of the world’s most prestigious property companies. The deal marked one of the largest Scottish property transactions since the Brexit referendum, helping kickstart the local BTR sector. Grosvenor, one of the UK’s oldest property companies, had specifically chosen the JV for their build-to-rent expertise.