RESIcast: How much of a wellbeing premium is there in housing?

Ensuring wellbeing is at the heart of build-to-rent (BTR) developments will be crucial for the asset class’s success and longevity, experts told Property Week on the latest RESIcast.

“Health and wellbeing are becoming very prevalent. People didn’t know or understand what it was a few years ago. Now people are talking about it; they’re realising that this needs to be front and centre in their lives,” says Johnny Caddick, director at Moda Living, which is delivering more than 6,500 BTR homes across England and Scotland in partnership with Apache Capital.

BTR has emerged in part as a response to modern consumer demands for experience and community. As a result, developers and investors are increasingly aware that they need to provide amenities and spaces that deliver both while tapping into the latest lifestyle trends.

At Moda’s flagship project, Angel Gardens, which opens its doors this October, residents will have access to a rooftop sports court, 24-hour private gym and communal lounge, while the MyModa app will allow Moda customers to organise events with neighbours and other like-minded residents.

Moda is also offering the option of 3D body scans and health checks on move-in, as well as nutritionist-designed meals delivered to your home as part of a tie-up with ‘digital wellness’ platform hero.

Hero was founded by former UK managing director of WeWork Joe Gaunt. Speaking about the partnership between Moda and hero, Gaunt says he believes it will “enhance the experience for those living in city centres and bring all aspects of wellbeing and health right to the fore”.

For Caddick, the most important aspect is that the amenity and service offering creates a hassle-free lifestyle, which in turn will help boost people’s overall wellbeing.

“We’re building communities and that’s at the heart of what we’re trying to do,” he says. “In Manchester with Angel Gardens and across our portfolio, we’re trying to have these homes with this all this accessibility towards the amenity areas, the outside areas and the opportunity to meet new people.

“A lot of people just don’t have time and time is one of the big luxuries we can try and provide people with at Moda building.”

Broadcaster and interior designer Naomi Cleaver agrees. “What’s been incredibly exciting about our partnership with Moda is that I’ve been banging on for years that you have to design collaboratively with your client and designing a space is not just about the space – it’s about the human beings not only who use it but who serves it as well,” she says. “You know it’s all very well, for example, designing a beautiful hotel, but that’s not going to be satisfactory if the service is really poor. So if you’ve got a fabulous combination of great service and really good space as well then you’re going to nail it.”

Creating a natural and implicit sense of wellbeing and place can also be achieved through interior design, Cleaver adds, by using simple things like materials and furniture to create a genuinely personal experience. “As an interior designer, you want to make sure you’re stimulating and enriching the lives of your residents through all their senses,” she says.

You can listen to this podcast via iTunes or Spotify or SoundCloud or listen to it through the player above. This podcast was produced by Blackstock Consulting [www.blackstock.co.uk] founder Andrew Teacher and you can Tweet your views @andrewjteacher and @RESIevent