CCG TO DELIVER CASA BY MODA’S FIRST SCOTTISH SINGLE FAMILY RENTAL DEVELOPMENT

Single Family Rental operator Casa by Moda’s first-ever Scottish neighbourhood is set to be delivered by CCG in Glasgow, bringing a new generation of rental homes to the region for the first time. 

The £41m development, named Casa, Vista Park, will deliver 156 new homes located in Springboig in the east end of the city and will deliver deposit-free, pet-friendly living for residents as part of an inclusive offering designed to prioritise health, wellbeing and sustainability.

CCG originally purchased the land for the purpose of private residential development to be led by CCG Homes, the private housing subsidiary of the Group, however, following the sale to Moda Living, CCG will now collaborate with Casa by Moda to complete the development and regenerate 6.5-hectares of brownfield land to deliver a mix of one and two-bedroom apartments and two, three and four-bedroom homes.

One of the UK’s most exciting emerging markets, single family rental sees developers own and operate neighbourhoods, typically in suburban locations, as opposed to the city centre locations with which build-to-rent is closely associated.

Residents at Casa, Vista Park will benefit from several Casa brand partnerships, including Utopi’s market-leading tech platform. In a first for the industry, smart technology is installed in every home to monitor air quality, energy usage and carbon emissions – while also being able to pre-empt maintenance issues and provide live data reporting via their MyCasa resident app, a digital communication tool that enables residents to pay rent, take advantage of local, regional and national brand partnerships, and also provides the option to conveniently book at-home services, such as dog walking, window cleaning and gardening services.

As a long-term operator, Casa will also organise community events – from arranging for local food vendors to run pop-up stalls on site, to organising outdoor fitness workshops for residents through its diverse range of partners.

Jonny Caddick, Chief Executive at Moda Living, expressed excitement about Casa by Moda’s Glasgow debut.

Mr Caddick said:

“We’re incredibly excited to be bringing Casa by Moda to Glasgow for the first time. There is a significant undersupply of quality rental homes across Scotland and in Glasgow in particular. With rental prices on the rise, residents want and deserve to be sure that they are getting value for their money and long-term security. At Casa by Moda, that’s exactly what we’re committed to delivering.

“Our Casa, Vista Park neighbourhood will deliver quality, sustainable homes in a vibrant and inclusive community, harnessing innovative tech to provide a standout offering with health and wellbeing at its core.

“We can’t wait to welcome our first residents later this year and look forward to seeing Casa, Vista Park become a thriving community which enriches the lives of the people who live there.”

CCG will build out the new homes to a market-leading standard of energy performance to their in-house offsite panelised construction and manufacturing expertise with the entire development set for completion in 2025.

Calum Murray, CCG Director, highlighted the importance of the Single-Family Rental model for the housing and construction sectors in Scotland. The collaboration between CCG and Casa by Moda will significantly benefit the local economy and the housing market in Glasgow’s east end.

Mr Murray said: 

“Single Family Rental, given the necessary support of Government, is a major emerging market for housing and the construction sector in Scotland.

“We are delighted to be working in collaboration with Casa by Moda to bring this innovative family rental model to Glasgow for the first time. The level of investment created by this partnership, is particularly significant for our business, for the housing market and for the city of Glasgow, especially in the east end where our commitment to provide high-quality homes and sustaining jobs is hugely important for the local economy.

“Through our engagement with the city and the community from the outset, we are aware of how positively this new development is welcomed locally. Casa, Vista Park will be transformational and presents a real opportunity for families in Springboig and further afield to live in quality, efficient and spacious homes in a unique, and highly-accessible setting.”

Rettie & Co advised Casa by Moda on the deal alongside DWF, while CCG was advised by Savills and Andrew Strathern.

Sandy Gilmour, Head of Development + Investment at Rettie & Co, added:

“Rettie is pleased to have successfully brokered this ground-breaking translation on behalf of our longstanding client Casa by Moda. It is the first single family, houses for rent, residential investment deal in Scotland following on from the rent freeze and mini-budget. The transaction illustrates that leading market knowledge and investment expertise can help to unlock deals even against the most challenging of political and economic conditions.  We look forward to unlocking more of these opportunities within the Central Belt of Scotland.”