The firm wants to redevelop the Pitt Street complex into a ‘build-to-rent neighbourhood’, with co-working space for start-ups and health and wellbeing facilities nestled in among 433 apartments designed for rent.
To be developed in a joint venture with real estate investment management firm Apache Capital Partners, construction will start on the £120m scheme later this year, with the first homes available in 2022.
Moda will also improve the surrounding public realm outside of the Pitt Street site installing new green infrastructure.
Tony Brooks, managing director at Moda, said: “Securing planning permission for Holland Park is a real milestone for the business, and puts us one step closer to creating the UK’s leading lifestyle property brand.
“The absence of objections during the consultation and state of support from the Glasgow Chamber of Commerce is a real testament to the strength of the Moda and Apache Capital model, which will offer renters in the city an experience far above and beyond what is already available.”
Backed by Apache Capital Partners, Moda has a £1.5bn pipeline of 6,000 rent-only apartments in high profile city centre sites across the UK. Other schemes are currently underway in Birmingham, Liverpool, Leeds and Manchester.