Pioneering Co-Living rental conversion scheme gets go-ahead

24 May 2021 | Renting

Pioneering Co-Living rental conversion scheme gets go-ahead

A 133-unit co-living rental scheme is to be built in the Devon city of Exeter.

The scheme will place an emphasis on community living with residents enjoying a shared kitchen, lounges, library, cinema room, gym, courtyard garden and dining area, as well as co-working space. 

The development is close to the centre of Exeter and offers extensive bike storage; it is due to complete in 2022.

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The site is a former ambulance station and development firm Watkin Jones worked with the South West Ambulance Service Trust at the start of the Covid-19 outbreak to keep the site’s facilities available as part of the NHS response to the pandemic. The application was supported by SWAST for its potential to provide housing for NHS workers at the nearby Royal Devon & Exeter Hospital, and was further supported by the Exeter Cycling Campaign for the quality of cycling provision. 

Twenty per cent of the accommodation will be affordable private rent.

Alex Pease of Watkin Jones says: “Co-living is increasingly popular, and this scheme is a fantastic example why. It will offer an active community and lifestyle for residents in a highly desirable location, with almost instant access to Exeter’s dynamic centre. 

“We are particularly pleased to have had the support of local organisations that recognise the benefits and demand for this scheme.

“Institutional and resident interest across UK residential for rent remains very strong, so we are excited our growing pipeline is driving forward to meet this demand. 

“Institutions are looking for high-quality rental assets that offer strong long-term returns, and, after the pandemic, renters increasingly want great homes with in-built lifestyle and welfare provision.”

This post has originally been featured in Letting Agent Today.