It is the first of Moda Living’s sites in Scotland, and its fifth in the UK taking the value of live schemes to £850m.

Once completed, Springside will offer 476 homes designed exclusively for rent in the heart of the historic Fountainbridge district in Scotland’s capital.

Moda received planning for the second phase of Springside, which includes 139 homes in December 2019 with works for the final phase likely to continue after phase one completion.

Liam Hanlon, managing director, major projects, Robertson, said: “We have been working with Moda Living and funding partner Apache Capital for the last 18 months to bring this project to fruition and we’re are looking forward to commencing on site.  Our shared approach to quality, innovation and collaboration will result in a new definition of renting in the capital.”

Moda Living, and funding partner London-based Apache Capital Partners, are now on target to open 125 homes a month by the end of 2021 from a development pipeline to 7,500 homes and growing.

Tony Brooks, managing director at Moda Living, said: “We were an early mover into Scottish build-to-rent and able to secure a prime site in Edinburgh off-market from Grosvenor thanks to the strength of our delivery team and unrivalled nature of our consumer offer.”