Moda’s suburban arm acquires Leeds site
Casa by Moda, the single-family homes division of developer and operator Moda Living, has bought a site at Kirkstall Hill where 223 homes are being delivered.
This will be the brand’s first single family rental homes neighbourhood in the city.
The site has been acquired from specialist sustainable housebuilder Artisan Real Estate. It features 223 family homes for rent, ranging in size from one, two and three-bedroom apartments to two, three and four-bedroom houses.
A further 40 homes in the development will be classed as affordable homes, and will be managed by 54North Homes.
The deal will see Casa take ownership of the six-acre development. The new neighbourhood, called Casa, Abbey Court, will offer residents deposit-free, pet friendly living as part of an inclusive offer, described by the firm as placing service, technology (delivered in partnership with Utopi), wellbeing and sustainability at the forefront of the rental community.
Caddick-owned Casa will continue to work with Artisan to complete the delivery of the new homes at Kirkstall Hill, between Kirkstall and Headingley. Artisan originally acquired the site in March 2021 and started development later that year.
Matt Townson, director of development and projects at Casa by Moda, said: “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.”
The acquisition comes in the wake of Casa announcing its first neighbourhood in Glasgow, where it is working with CCG Homes.
Townson continued: “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.”
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.”
