April 16 2020

Investors behind one of Edinburgh’s largest build to rent projects have shrugged off recession fears after agreeing to fund delivery of 476 homes in Fountainbridge.

Springside is funded by a joint venture comprising Apache Capital Partners and Harrison Street, with Moda Living handling day-to-day operations for the site, which includes residents’ amenities, retail and leisure.

John Dunkerley, CEO and co-founder of Apache Capital Partners said: ”We are committed to delivering and expanding our build-to-rent pipeline with both Harrison Street and Moda Living despite the near-term disruption being caused by Covid-19.”

Robert Mathias, senior managing director and head of international business for Harrison Street, added: “Edinburgh suffers from a significant lack of viable residential rental housing options given there is virtually no purpose-built accommodations in a city where nearly a quarter of the population are renters.”

Johnny Caddick, managing director at Moda Living, concluded: “The resilience of residential property as an asset class has never been in doubt, but in recent weeks we've learned just how much our customers have valued the ability to work, exercise and prioritise their mental and physical wellbeing without leaving home. The continued confidence of Apache and Harrison Street in our branded platform underlines the defensive qualities of build-to-rent and we look forward to raising the bar for renting in Scotland.”

Robertson is expected to move on-site for the CDA designed scheme later this year, with completion expected by 2022.

2 Comments

#1 Posted by Daniel on 17 Apr 2020 at 16:26 PM

Good news - as a long-term resident of the area, it's been so good seeing this site spring into life. I've been really concerned this current situation would send this back to the drawing board and we'd be stuck for another ten years with that hideous vacuum gap site...

#2 Posted by Terra on 21 Apr 2020 at 00:33 AM

fantastic news

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