Capital estate agent advises on Scotland’s biggest ever build to rent deal

Rettie & Co has advised Moda Living on Scotland’s biggest build to rent deal and one of the biggest post-Brexit housing transactions in the UK.

Moda Living and its joint venture partner Apache Capital have acquired the Fountainbridge site from Grosvenor and now plan a £215 million investment to create over 500 homes for rent as well as significant commercial space.

As one of Scotland’s biggest regeneration schemes, the Fountainbridge deal offers a significant vote of confidence to the country’s housing market at a time of major reform for the rental market.

Moda Living and Apache Capital have the UK’s largest national pipeline of build to rent schemes, with developments in Manchester, Leeds, Birmingham and Liverpool, as well as the recently-announced Glasgow redevelopment of the former Strathclyde Police headquarters.

Matthew Benson, Rettie and Co director and head of development services, said: “We are delighted to have advised what is a significant milestone in ‘s housing market. Our growing specialism within build to rent means we have been able to fully assess across all areas of valuation and risk management, and believe that this show of condience by one of the UK’s biggest market players will be a huge boost for the economy.

“Rettie and Co has been at the centre of burgeoning build to rent sector for years, and the Fountainbridge deal highlights our ability to provide research on market fundamentals and guide clients who seek on-the-ground insight across sales, investment and residential asset management.”

Tony Brooks, managing director of Moda Living, said: “Rettie and Co’s deep multi-layered understanding of Scotland’s housing market has been vital in supporting this deal. The firm’s market leading position, strategic thinking and its understanding of the legislative and political context was vital in supporting such a major milestone for Moda Living and for Edinburgh’s property market. We look forward to working with the team in the years ahead.”