Old Oak residents will have a private bedroom, bathroom and kitchenette, but will share masses of amenity spaces with hundreds of flatmates.
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London is in the midst of a housing crisis, with rising rents making once affordable areas of the city completely out of reach for young professionals. Hoping to provide a solution, property startup The Collective is set to launch its Old Oak property in May 2016. The 12,000 square feet of shared living space, in a converted, abandoned office building, is a huge experiment in co-living. Residents will have a private bedroom, bathroom and kitchenette, but will share many of the amenity spaces with hundreds of flatmates: the idea is to strike a balance between private space and a sense of community.
The property initiative aims to provide an alternative to ever-shrinking flats and rooms in the city, especially in illegally converted houses. Residents will have access to shared spaces, including a secret garden, kitchens, a cinema room, a spa and gym, and a games room. There are also dining rooms, which residents can rent out for when they want to entertain. Residents pay an all-inclusive monthly rent starting from GBP 1000, which includes bills, wifi, weekly room clean and linen change.
How else can developers rethink conventional living spaces, to adapt to rising rents and overpopulation?