UK: Casa by Moda, the SFR arm of developer and operator Moda Living, has acquired a site in Leeds to deliver the brand’s first single family homes development in the city.
The site, which has been acquired from specialist sustainable housebuilder Artisan Real Estate, is located between Kirkstall and Headingley and will be Casa’s first operational neighbourhood in Yorkshire. It will feature 223 family homes for rent, ranging in size from one-, two- and three-bedroom modern apartments to two-, three- and four-bedroom houses.
The deal will see Casa take ownership of the 2.4-hectare development. The new neighbourhood, called Casa, Abbey Court, will offer residents “deposit-free, pet-friendly living as part of an industry-leading inclusive offer which places service, technology, wellbeing and sustainability at the forefront of the rental community”.
Following the purchase, Casa will continue to work with Artisan to complete the delivery of the new homes. This work will include embedding Moda’s technology partner Utopi’s smart environmental sensors into the homes, which enable residents to monitor everything from room temperature to air quality and light pollution. The homes will also feature air source heat pumps as part of Casa’s commitment to sustainable development and its journey to net zero.
The acquisition comes in the wake of Casa announcing its first neighbourhood and the first ever single-family product in Glasgow, now known as Casa, Vista Park, working with CCG Homes to develop 156 new rental homes in the city.
Matt Townson, director of development and projects at Casa by Moda commented: “We’re entering an exciting phase with the delivery of our first neighbourhoods, and as a business headquartered in Yorkshire, Casa, Abbey Court is special for us, as it marks our first neighbourhood that will open in our home region. With demand for rental accommodation remaining high, our approach as a long-term owner and operator is to create not only high quality, sustainable homes, but new communities that go beyond bricks and mortar by actively supporting the wellbeing of our residents.”
“Casa, Abbey Court marks a step change in single family rental in Leeds, not only in terms of quality but also being able to offer residents leases of up to three years, something unheard of in the traditional rental market. During the current periods of economic uncertainty, we believe it’s important to be able to provide our residents a security of tenancy that can only come from our long-term approach. Looking ahead we have ambitious plans for the future and are looking forward to collaborating with sustainable housebuilders like Artisan, as well as local authorities and landowners to deliver more new homes across the UK, as we progress towards our target of securing 5,000 new homes by 2025,” he added.
Artisan originally acquired the site in March 2021 and started development later that year.
James Bulmer, regional director for Leeds-based Artisan Real Estate North, said: “The collaboration with Casa by Moda provides a significant opportunity to deliver much needed new homes for rent in one of Leeds’ most desirable suburbs for young professionals and families alike, offering fantastic connectivity to the city centre. There is a growing demand for high-quality, family rental properties with easy access to city centres providing the perfect blend of town and country living, and Casa is a proven operational model designed specifically to meet the needs of today’s rental market. From our head office in Leeds, Artisan is developing an exciting pipeline of future homes-led regeneration projects across the region. Collaborative partnerships with successful rental platforms such as Casa will form the perfect development model to provide the mix of tenure that is required by today’s housing market.”
