Apache Capital and Moda Group agree land sale in Hove to Homes for Brighton & Hove
• Apache and Moda have agreed to sell a land plot adjacent to BTR neighbourhood in Brighton & Hove, subject to planning permission.
• The site will be delivered by Homes for Brighton & Hove, a joint venture between Brighton & Hove City Council and housing association the Hyde Group.
• The site will see the delivery of more than 300 much-needed affordable homes, subject to planning permission.
June 2025 – The joint venture (JV) between UK-focused living real estate investment manager Apache Capital (Apache) and rental living developer/operator Moda Group (Moda) has agreed to sell a development plot to affordable housing provider Homes for Brighton & Hove.
Homes for Brighton & Hove was established seven years ago as a joint venture between Brighton & Hove City Council and the Hyde Group, with the purpose of delivering 1,000 lower income households in the city.
The land disposal marks the final phase of Apache’s and Moda’s build-to-rent (BTR) neighbourhood Moda, Hove Central. The Apache/Moda JV, which was formed in 2015 to own, develop and operate prime multi-family developments in the UK’s core regional cities, has transformed a former trading estate into a new community-focused neighbourhood combining 564 purpose-built rental homes, retail, Grade-A office space and public realm.
More than 70% of the released units at the neighbourhood were let within six months after opening. Residents benefit from access to extensive amenities including a gym, cinema room and co-working spaces. The new homes from Homes for Brighton & Hove will be added to the affordable homes already being delivered at Hove Central. In the final phase of the development, a self-contained office building is also being delivered which will bring much-needed Grade A space to the surrounding community.
The public realm, which accounts for over 60% of the site, includes landscaped communal gardens, retail, and leisure facilities, delivering significant social value to the local community. A £500,000 Public Art Strategy implemented by Moda as part of its S106 contribution will see bespoke pieces by local, national and international artists installed in the public realm, designed in collaboration with Hove Central residents and the local community.
Apache and Moda’s JV has created one of the largest privately funded BTR platforms in the UK, having delivered over 3,000 homes across Manchester, Liverpool, Leeds, Edinburgh, Glasgow, and Birmingham, where it has another 722 homes under construction. KKR funded Hove Central in partnership with Apache.
John Dunkerley, Chief Executive Officer at Apache Capital, said:
“Hove Central is a diverse and multi-faceted masterplan which will now deliver high-quality housing across a range of tenures alongside its positive environmental and social impact on the area.
“We prudently adapted our strategy to satisfy market demand, with the new affordable provision set to supply much-needed social housing in the area and bolster the placemaking credentials of the scheme, which is already a hive of activity despite only opening in Spring 2024.
“Leasing activity at the build-to-rent element illustrates the strength of demand for a living proposition underpinned by high-quality sustainable rental housing, professional management and amenity offerings, which is also seen through investor confidence. Institutional capital continues to be drawn to the sector’s strong structural tailwinds and growth outlook, and one in which Apache has one of the largest operational portfolios.”
Tony Brooks, Executive Chair at Moda Group, said:
“From site acquisition and planning through to delivery and long-term operation, we have worked closely with Brighton & Hove City Council and the city’s wider community to deliver a neighbourhood that meets its needs and embraces the vibrant spirit of this amazing location.
“The sale of this final plot to an affordable housing provider is a fitting conclusion, helping to address the city’s housing need while reinforcing our long-term commitment as a partner and neighbour to Brighton & Hove. We look forward to seeing these much-needed homes come to fruition as part of the wider masterplan at Hove Central.”
To date, Homes for Brighton & Hove has delivered almost 350 homes. It is estimated that around 7,500 households are currently on the housing register in Brighton & Hove, with nearly 1,800 currently in emergency and temporary accommodation.”
Jaime Buckley, Hyde Group Development Director, said: “We’ll be applying for planning permission in June 2025 to build 306 affordable homes at Sackville Road, 183 for council-rent and 123 for shared ownership. The homes will be designed to high sustainability standards using renewable energy systems and will deliver 10% biodiversity net gain. Should permission be granted, we hope to start construction in early 2026.”