Plans approved for Moda’s first co-living scheme

Moda Living secures planning permission for its first co-living neighbourhood in Bermondsey, London.

Moda Living's co-living neighbourhood on Penarth Street, Bermondsey | BTR News
Moda Living's co-living neighbourhood on Penarth Street, Bermondsey.

Moda Living announced its plans to enter the co-living sector in Q3 2021 with an initial pipeline of £1bn. The developer operator has now secured full planning permission for its first scheme in Bermondsey, London, which forms part of Moda Living’s Studio Living platform. Child Graddon Lewis (CGL) are the main architect on the project, which is expected to complete at the end of 2026.

Located on Penarth Street, the £134m neighbourhood will deliver 330 units – a mix of 283 interior-designed studios and 44 affordable homes. Each home is embedded with smart technology, generating real-time wellness scores based on factors including temperature, air quality and light levels. Residents can access this data via the MyModa app.

Amenities and services at the new co-living neighbourhood will include a gym, roof terrace, residents’ lounge, a games room and private dining room – as well as a 24/7 onsite team, an on-site laundry and secure cycle storage.

Residents will also benefit from a range of services available on the MyModa app, such as booking onto the scheme’s programme of events, reporting maintenance issues, forming community groups, and making use of exclusive brand partnerships. Residents can also track their energy consumption, which also provides tips and tricks on how to keep costs to a minimum by making small changes.

“Penarth Street promises to be the perfect flagship neighbourhood to launch our Studio Living platform, offering renters an exciting alternative to house shares in the rental market.

“Featuring Moda Living’s trademark beautiful interiors, best-in-class amenities and commitment to excellent customer service, we are excited to see this new neighbourhood come to life and re-define renting for the next generation.”

James Edwards, Development Executive for Moda Living’s Studio Living platform

Moda Living’s Studio Living platform offers a new demographic of renters – who are used to house shares in the private rental market – and enhanced level of amenities and services. Its co-living schemes will offer the best of city centre living alongside shared spaces, with a secure tenure of up to three years.

Wherever possible, Moda Living will recruit construction and operational teams from the local area, creating jobs and to support the local economies.

“Moda Living’s years of experience in the sector allow us to truly redefine what renting means, offering an unparalleled experience for residents looking for close-knit communities with health and wellbeing at their heart.

“Co-living is an exciting sector with huge potential, and I look forward to seeing this new neighbourhood take shape.”

Johnny Caddick, Chief Executive, Moda Living

Moda Living’s Studio Living platform is predominantly focused on London and the South East, and will centre around the developer operators core brand priorities of best-in-class customer service, health and wellbeing, technology and ESG. 

Moda Living’s pipeline of next generation rental homes consists of 24,000 new homes worth a combined £6.8bn.