Build to Rent Developer, Moda Living has seen a 36% increase on its annual turnover, alongside boosting its operating profit as they continue to secure sites and strive to deliver 7,500 build to rent homes.
Moda, which is joint owned by Caddick Developments and Generate Land reported a turnover of £120m for the year ending 31 March 2020, which was an increase of £88.3m in 2010. They also saw operating profits increase from £3.19m to £3.56m. They have secured nine sites, which puts their total gross Development Value up to £1.3bn.
Construction in Liverpool, Birmingham, Leeds and Edinburgh will deliver 1,658 and is hoping to be completed by the end of 2022, whilst a 433 Glasgow development is expected to be completed in 2023. The tower block, Angel Gardens in Manchester was completed last August, which delivered 458 homes. Moda are looking to secure further Build to Rent sites in order to reach their 7,500 homes target.