A key part of a large-scale regeneration project in central Edinburgh has been submitted for planning, with over 200 homes designed specifically for rent being considered by City of Edinburgh Council.
Moda, a developer and operator of private rented housing, alongside joint venture partner Apache Capital, has submitted plans for 221 homes in the Springside masterplan. Sitting in the historic Fountainbridge district of the Scottish capital, Springside is one of the country’s biggest housing projects and will help breathe new life into Edinburgh city centre.
A six-storey apartment block, together with an earlier consent, will deliver the first wave of homes – over 350 in total. Designed by CDA Architects, the homes will raise the bar in the Edinburgh rental market, with a mix of apartment sizes available, ranging from studios to three-bedroom duplexes.
Arranged into a C-shaped block, the 221-home building will be the largest brought forward as part of the Springside regeneration. As with all Moda developments, Springside will boast a range of on-site amenities, including health and wellbeing facilities, communal lounges, virtual sports simulators and dining spaces. Residents will also have access to a semi-private courtyard and two roof terraces overlooking the city, which form part of over 15,000 sq. ft. of amenity space.
Moda and Apache Capital purchased the Springfield site from Grosvenor Great Britain and Ireland in May last year, which included 46 existing units. The deal marked one of Scotland’s biggest property transactions post-Brexit and helped kick-start the country’s build-to-rent sector.
Once finished, Springside will offer over 500 homes for rent alongside 25,000 sq. ft. of commercial space and new public realm, creating a ‘build-to-rent village’ housing a community of 1,000 people.
To make residents’ lives easier, professional on-site management in the form of a 24-hour concierge service will be provided, while the bespoke MyModa app will allow Moda customers to do everything from report a fault to organising events and letting friends in.
Family-friendly tenancies in excess of three years will also be offered, as Moda wants to transform renting from being a stopgap to homeownership into an aspirational lifestyle choice.
Tony Brooks, managing director at Moda, said:
“Springside represents a significant investment into the Scottish housing market and underlines our confidence in not just Edinburgh but the country as a whole. There is huge demand for quality rental housing in Edinburgh, driven by the city’s status as a major commercial centre and university town, and we aim to capitalise on that by delivering next generation urban living.
“By being both the developer and the landlord, we can ensure that our future customers have the best possible experience, designing a scheme from the ground up for rent and utilising the best of the modern technology and providing generous amenity space.”
Moda and Apache Capital Partners have a secured £1.5bn development pipeline of 6,000 rent-only apartments in high profile city centre sites across the UK. Other schemes are currently underway in Birmingham, Liverpool, Glasgow and Manchester.
Holland Park, Moda’s Glasgow scheme, secured planning permission in March this year, which will see the old Strathclyde Police headquarters transformed into 433 homes for rent.