Property and construction firm Caddick has announced its acquisition of Generate Land’s interest in residential developer Moda Living, thus increasing its ownership stake to a complete 100%. This pivotal move fully integrates Moda Living into the Caddick Group, marking a significant shift in the company’s operational dynamics.
Founded in 2014 as a joint venture between Caddick and Generate Land, Moda Living has been known for its ambitious projects in the residential sector. In a recent corporate update, Moda Living articulated that this acquisition bolsters its offerings to institutional partners. The firm expressed that the integration provides a unified, streamlined platform that leverages Caddick’s extensive capabilities in land supply, development, construction, and operational expertise.
With this strategic alignment, Moda Living is poised to benefit from enhanced scale and resources, thereby positioning itself to accelerate growth and broaden its portfolio of rental living neighbourhoods. The aim is to foster thriving communities across the UK, which is particularly significant given the current competitive landscape in the UK PBSA market.
In a notable expansion trajectory, Moda Living revealed its intentions to enter the purpose-built student accommodation (PBSA) sector in 2023, with an ambitious goal of developing a portfolio comprising 10,000 beds. This initiative follows the formation of a joint venture with private equity firm Aermont Capital, which is focused on launching a £1 billion PBSA strategy. This strategic partnership underscores the growing investor confidence in the UK PBSA market, highlighting the increasing demand for high-quality, purpose-built student accommodation.
The integration of Moda Living into the Caddick Group not only enhances operational efficiency but also signals a robust commitment to expanding into new segments of the residential market. The decision to enter the PBSA sector aligns with prevailing trends in student accommodation, where demand for tailored living solutions continues to rise.