Aviva Capital Partners and build-to-rent developer Moda Living have formed a joint venture, marking Aviva’s entry into the BTR market.
The partners’ first project will be the £400m, 1,000-home Stone Yard scheme in Digbeth in Birmingham, on a site bought from Gallagher Developments and Court Collaboration.
The venture will look for other “large-scale regeneration opportunities” across the UK. Tony Brooks, managing director at Moda Living, said: “Partnerships like this are an important part of the solution to the UK’s current housing crisis, facilitating major brownfield regeneration into thousands of new sustainable homes.”
Aviva Capital Partners chief executive John Cummins said the scheme would “boost the local economy and support the UK’s ambition to develop attractive and environmentally-friendly living spaces in our cities”, adding: “New, high-quality accommodation is vital for Birmingham to continue to thrive and meet its undoubted potential.
To send feedback, e-mail tim.burke@eg.co.uk or tweet @_tim_burke or @EGPropertyNews
