Rettie & Co. advises on Scotland's biggest ever build to rent deal
Moda Living and its joint venture partner Apache Capital have acquired the Fountainbridge site from Grosvenor and now plan a £215m 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.
“We are delighted to have advised what is a significant milestone in Scotland’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 confidence 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.”
– Matthew Benson, Rettie and Co Director and head of Development Services.
Rettie and Co’s Development Services team advises on many of Scotland’s biggest mixed use and residential developments – including Edinburgh St James, Western Harbour in Leith, New Waverley, The Playfair Building at Donaldson’s and Yorkhill in Glasgow. The Development team is now 20 strong across its Edinburgh and Glasgow offices and is set to add hires in 2017 to match continuing growth.
A number of publications have picked up on the Rettie & Co press release this morning, including:
Scottish Business News Network
For more information, please contact our Development Services Team.