Moda Living launches a new Student Accommodation platform in key university cities across the UK. The developer operator will draw on its rental sector expertise with the aim of becoming the market leader for wellbeing and experience in the UK purpose-built student accommodation (PBSA) sector.
The new platform will target the delivery of 10,000 new student beds in five years – in a mix of cluster flats with shared kitchen space and private studios. The developer operator has secured sites for c.4,000 student beds in cities including Manchester, Cardiff, Glasgow, Birmingham and Leeds, with the first of these set to start on site later this year.
Moda’s student homes are designed for style and comfort to help residents feel at home, whether they’ve travelled five or 5,000 miles to study. Neighbourhoods will feature extensive amenity spaces including event spaces, wellness zones, fitness suites, private dining spaces, study rooms and lounges, together with roof terraces and green spaces.
The student neighbourhoods will strive to educate members on cost and usage of energy – as well as provide real time monitoring and gamification of sustainable living via the resident app. Moda will provide a range of goods and services in a safe and secure environment monitored 24/7 by onsite teams.
“This is a big moment for Moda Living, as we take all our expertise and apply it to the vibrant world of PBSA. As a family company we have identified an opportunity to put a flag in the ground that evolves the market proposition with a focus on health, wellbeing, security and experience.
“By applying our key brand foundations of outstanding service, unparalleled wellbeing, real-time ESG monitoring and a market-leading technology provision, we’re confident Moda will translate seamlessly into this space and help us provide the best student living experience in the UK.
“There are several developers and operators that have already set a very high benchmark in the UK PBSA sector, and we are excited for the challenge as we work to provide a point of difference. We’re already hard at work on bringing our first student neighbourhoods forward and can’t wait to welcome our first students to the Moda family.”Oscar Brooks, Co-Founder and Director, Moda Living
Physical and mental health and wellbeing will be central to all the PBSA developments and will target top level 3-star accreditation from Fitwel as standard, ensuring wellness is considered at every project stage from design to long-term operation. All onsite teams will be mental health first aid trained. Residents will also have subsidised access to online mental health services from MYNDUP, which ranges from counselling and therapy to mindfulness and meditation sessions.
The new PBSA platform will deliver much-needed new quality stock to the market at a time when students struggle to find appropriate, safe and secure homes to live. It also leverages Moda’s family values to help address loneliness, anxiety, and stress as part of a fantastic overall experience with quality homes that allow students to focus on their studies and enjoy their new communities.
“This is a natural step for the growing Moda Living business, but it’s also a very timely one. Like the mainstream housing market, the UK student accommodation market is crying out for quality new homes that will address the current shortage and we’re very confident that demand for sustainable, community-focused homes will ensure the success of this new addition to Moda’s portfolio of rental platforms. A largescale, well managed and ESG-focused platform that delivers annuity style income aligns well with our global investor group.”Johnny Caddick, Co-Founder and Chief Executive, Moda Living
Joining its existing group of Build to Rent, single family rental and co-living divisions, Moda’s student platform will be centered around wellbeing, ESG and overall experience, whilst maintaining a focus on best-in-class design, digital infrastructure, and environmentally sustainable homes with community at their heart. The student homes form part of Moda Living’s overall pipeline of 24,000 new homes for renters across the UK, worth a combined £6.8bn.