Single-family rental operator Casa by Moda is set to open Casa, Vista Park, its first neighbourhood in Scotland, which will bring a new generation of rental homes to the Glasgow region for the first time.
The neighbourhood has been purchased from the CCG Group – one of Scotland’s largest privately-owned construction and manufacturing companies, which has been on-site since early 2022. Rettie & Co advised Casa by Moda on the deal alongside DWF. CCG was advised by Savills and Andrew Strathern.
“Rettie is pleased to have successfully brokered this ground-breaking translation on behalf of our longstanding client Casa by Moda. It is the first single family, houses for rent, residential investment deal in Scotland following on from the rent freeze and mini budget. The transaction illustrates that leading market knowledge and investment expertise can help to unlock deals even against the most challenging of political and economic conditions.
“We look forward to unlocking more of these opportunities within the Central Belt of Scotland.”Sandy Gilmour, Head of Development + Investment, Rettie & Co
The £41m Casa, Vista Park neighbourhood will deliver 156 new homes – a mix of one- and two-bedroom apartments and two-, three- and four-bedroom houses in the east end of Glasgow. It marks the first time the single family housing Build to Rent model has been offered in the region.
Community spaces include a wildlife area and two play parks suitable for families and young children. Casa, Vista Park will also offer residents deposit-free, pet-friendly living as part of a rental offer designed to prioritise health, technology, wellbeing and sustainability.
Casa, Vista Park will welcome its first residents this summer, with CCG set to complete the entire neighbourhood by 2025.
“We’re incredibly excited to be bringing Casa by Moda to Glasgow for the first time. 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. At Casa by Moda, that’s exactly what we’re committed to delivering.
“Our Casa, Vista Park neighbourhood will deliver quality, sustainable homes in a vibrant and inclusive community, harnessing innovative tech to provide a standout offering with health and wellbeing at its core.
“We can’t wait to welcome our first residents later this year and look forward to seeing Casa, Vista Park become a thriving community which enriches the lives of the people who live there.”Johnny Caddick, Chief Executive, Moda Living
Casa, Vista Park will regenerate a 6.5-hectare brownfield site located on Edinburgh Road. The scheme is a short walk from Garrowhill and Shettleston train stations, and is a 15-minute drive from the centre of Glasgow, offering residents strong commuter links back into the city.
Casa by Moda will operate Casa, Vista Park for the long term. The single-family rental operator is part of the rental living operator Moda Living’s single family rental platform – Moda Family Homes.
Smart technology will pre-empt maintenance issues; monitor air quality, carbon emissions and energy usage in real time; and provide residents with wellness reports based on this data through the bespoke MyCasa resident app. Solar panels are also installed on all homes.
The MyCasa resident app will allow residents to report maintenance requests, contact the service team, and book at-home services such as dog walking and window cleaning. It also connects residents, allowing them to share and join community events, and chat with neighbours on the community forum.
CCG Group will complete the development with the new homes being delivered for Casa to market-leading standards of energy performance thanks to their in-house offsite panelised construction and manufacturing expertise. The integration of solar PV panels will further support a reduction in energy consumption and cost to Casa’s residents.
“Single-family rental, given the necessary support of Government, is a major emerging market for housing and the construction sector in Scotland.
“We are delighted to be working in collaboration with Casa by Moda to bring this innovative family rental model to Glasgow for the first time. The level of investment created by this partnership, is particularly significant for our business, for the housing market and for the city of Glasgow, especially in the east end where our commitment to provide high-quality homes and sustaining jobs is hugely important for the local economy.
“Through our engagement with the city and the community from the outset, we are aware of how positively this new development is welcomed locally. Casa, Vista Park will be transformational and presents a real opportunity for families in Springboig and further afield to live in quality, efficient and spacious homes in a unique, and highly accessible setting.”Calum Murray, Director, CCG