Casa by Moda buys £41m Scotland scheme
Casa by Moda has acquired a £41m, 156-home scheme in Glasgow.
The single-family rental operator bought the 16-acre Casa, Vista Park site from the CCG Group which has been on-site since early 2022. CCG will complete the development before Casa takes over the operations.
Vista Park will comprise a mixture of one-and-two-bedroom flats, alongside two-to-four-bedroom houses for rent, with community spaces; including a wildlife area and two play parks.
Casa by Moda has acquired a £41m, 156-home scheme in Glasgow.
The single-family rental operator bought the 16-acre Casa, Vista Park site from the CCG Group which has been on-site since early 2022. CCG will complete the development before Casa takes over the operations.
Vista Park will comprise a mixture of one-and-two-bedroom flats, alongside two-to-four-bedroom houses for rent, with community spaces; including a wildlife area and two play parks.
Jonny Caddick, chief executive at Moda Living, said: “There is 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 money and long-term security. ”
Sandy Gilmour, head of development and investment at Rettie & Co, which advised Casa on the deal, said: “It is the first single family, houses for rent, residential investment deal in Scotland following the rent freeze and mini Budget. The transaction illustrates leading market knowledge and investment expertise can help to unlock deals, even against the most challenging of political and economic conditions.”
Rettie & Co advised Casa by Moda on the deal alongside DWF, while CCG was advised by Savills and Andrew Strathern.
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