What is described as the world’s largest’ co-living’ scheme opens this week with a 550-bed 11-storey development in west London.
With rents for the units starting at £225 per week and including all utility bills, council tax, wi-fi, concierge services, 24/7 security, room-cleans and linen changes, the operators - called The Collective Old Oak - claim to be offering “a completely new way of living.”
There will also be commercial workspace available within the same complex, and an on-site restaurant will open later in the year.
The concept sounds similar to Build To Rent, although without any apparent institutional investment and with some allied commercial use within the same scheme; similar but smaller ‘co-living’ developments run by The Collective exist in Acton, Camden, Hyde Park, King's Cross and Notting Hill.
In addition to its core activity, The Collective has also instigated a growth fund “backing entrepreneurs who are committed to building smart city technology to disrupt the property, retail, design, social and food and beverage sectors.”