The Corporation’s Planning Applications Sub-Committee has, today, approved a new ‘Co-Living’ development at 45 Beech Street.
Also known as Murray House, the proposals will see the building partially demolished and then extended to deliver 174 private rental co-living units, with a range of internal and external amenity spaces, including communal cooking, dining and working areas, cycle storage and servicing. Further landscaping and public realm works will transform the area into a new destination and cultural space for the City.
The site is currently in use as an office building, but surrounded by residential buildings, Bridgewater House (on Bridgewater Street) and adjacent to both Bryer Court and the Barbican Estate. Given the building’s residential location, it was deemed suitable for co-living use, justifying the relatively small loss in office space to increase living accommodation choice for Londoners. An additional sum for off-site affordable housing has also been agreed in excess of £8.5m.
In keeping with the City Corporation’s recent flurry of retrofit project approvals, including the refurbishment of the iconic office building at 60 Queen Victoria Street, the 45 Beech Street proposals will deliver a top rated, sustainable development that is expected to be able to connect to a nearby district heating network upon completion. The building design responds well to climate change resilience by implementing natural ventilation to respond to overheating risks, saving water resources and scope for urban greening and biodiversity. The design approach is an accomplished architectural response to its sensitive setting.
Co-living has recently established itself in London as an alternative approach to delivering more living accommodation within city centres, with flexible tenancies, fixed living costs and communal living facilities. This type of property is typically let at more affordable rates than other forms of accommodation, as a potential option for those who either cannot afford, do not want to buy and may not qualify for, affordable housing.
Chair of the Corporation’s Planning and Transportation Committee, Shravan Joshi, said:
“Co-living developments are becoming an important part of the mix for city living, particularly in providing more accommodation for young people, as we continue to transform the Square Mile into a thriving seven day and evening destination, for everyone. Also, with the built environment sector accounting for around 40% of total carbon emissions, retrofitting is also crucial for meeting our net zero goals.
“By working with stakeholders to deliver pragmatic policies that will help transition to net zero effectively, we aim to be the most attractive and sustainable global city for generations to come.”
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