Welcome to the future of the UK rental market. Welcome to City Co-Living.
Co (Community) living is an evolution of the residential rental market. It is a way of living that places the emphasis on the experience a tenant has and encourages socialisation amongst everyone that lives and works in the building.
Like some PRS developments, co-living developments benefit from high levels of amenity, with the key difference from PRS being that they are run by in-house teams who actively engage with and encourage collaboration and use of the community spaces, giving the buildings and the spaces within them a purpose for the people that call them home.
City Co-Living is the first tenant-centric co-living offering in the UK. Created exclusively by leading residential developer Beech Holdings and operated by our award-winning in-house lettings and property management team, City Co-Living will revolutionise the UK rental market, and take renting into the 21st century.
All City Co-Living buildings will offer unrivalled levels of amenities and be located in the most sought-after and undersupplied cities across the UK, where there is proven demand from the UK’s ever growing rental market of 18–30-year-olds.
City Co-Living delivers on a key fundamental that other co-living buildings have failed to offer – fully-furnished, self- contained apartments that offer more than just somewhere to sleep, and the privacy that long-term renters are looking for, whilst having a wealth of facilities and spaces that act as an extension of their home.
What’s more, every City Co-Living building is run and operated by dedicated in-house teams who are employed to engage with and encourage the residents to utilise the spaces in the buildings, putting wellbeing at the centre of the operations and fostering organic communities where young people, at various stages of life and from across the world, come together to live, collaborate, thrive, and enrich each other’s lives, forging lifelong relationships.
Residents have access to a wealth of shared amenities and facilities, whilst a dedicated community manager engages with the residents, organises regular communal events, and encourages the use of the shared spaces as an extension of the resident's home.
Residents benefit from having their own self-contained apartment within the building, with unlimited access to the on-site facilities and events when they choose – giving them the opportunity and flexibility to include themselves at a level they feel comfortable with.
Residents have the opportunity to rent in a City Co-Living building throughout the key stages of their life, such as their university years, postgraduate years, and even during their years in the professional world of work, as co-living offers a home and community to those between the ages of 18 and 30 years old.
Like PRS, co-living developments are defined by their high level of finish and amenities – however what sets co-living developments apart is the focus on community and creating spaces with purpose – that actively encourage interaction between residents and the operators who run the buildings.
As more young people in the UK become lifestyle renters, there is growing demand for a community-centric living experience that extends further than a few token facilities and communal areas. As young people continue to strive for a living experience, as opposed to somewhere just to rent through necessity, co-living will increase in popularity.
By focusing on the resident’s experience within a development and encouraging them to utilises the spaces and attend and put on events within the building, residents will feel a strong sense of community and security within their home, whilst also feeling that their needs are being prioritised by the operator.
As co-living attracts residents from students all the way up to established professionals, the scope for the target market reaches a period of 12 years; meaning if a development can attract a resident from the moment they start studying and keep them fulfilled and excited about their living experience throughout this period, then the operator can essentially keep their customer for over a decade.
Download our comprehensive co-living investment guide to learn more about co-living, why investors should be paying attention to the rise of co-living, and how co-living capitalises on the largest sector of the UK rental market.