Moda heads to suburbs with new division

Backed by investment powerhouse Ares, the Caddick Group’s residential build-to-rent arm is to enter the single family housing market in a venture aiming to deliver 5,000 homes by 2025.

Moda Living said that the new division, Casa by Moda, would differ from most operating in the traditional rental model, in that residents won’t need to pay deposits and pets will be allowed.

The developments will have a “technology-first approach,” with services available through an app in a similar way to its city living developments.

Renewable leases for up to three years will be available in developments that will feature community groups and resident events.

The firm said that it has already secured sites with space for 1,000 new homes, and the brand will welcome its first residents in the second quarter of 2022. Further sites are being sought.

Jonny Whiteley, North West land manager at Casa by Moda, said: “Demand consistently exceeds supply for modern, high-quality suburban homes available for rent, and Casa by Moda will bring an innovative new model that will help plug this gap in the UK housing market.

Whiteley added: “We are keen to work with forward-thinking businesses and individuals who would like to be part of our journey. We will be looking to complete further land deals that will deliver new homes across Greater Manchester, Lancashire, Merseyside, Cheshire and North Wales to achieve our pipeline aspirations.”

Lydia Eustace, marketing director and head of wellbeing at Casa, said: “Changing the way people live for the better, all our residents will be offered on demand mental health services, access to wellbeing workshops and the opportunity to regularly connect with their neighbours.

“We know that 61% of renters feel lonely and that doesn’t need to be the case. By connecting our communities together and offering secure tenancies of up to three years, we’re able to create long-term, integrated neighbourhoods.”

In September, contractor BCEGI completed work on Moda Living’s 34-storey Lexington development in Liverpool. The developer is also responsible for the Angel Gardens project within Manchester’s Noma district.