With rent costs soaring over $2,100 per month in the England city, the Collective Old Oak London residence could come as a relief to those looking for a place to live.
Located in West London, the Collective Old Oak building incorporates dorm-like dwellings that consists of individual bedrooms with amply amenities that are shared with other tenants. The building will provide 550 units and is set to be the world's largest co-living property. The building will be unveiling shortly to the first set of residents.
Rent costs for the Collective Old Oak London residence vary between $327 and $582, and offers residents ample space to socialize and stay active. Additionally, the building will feature a 400-desk co-working space as well as a public restaurant and even a movie screening room.
Dorm-Inspired Dwellings
The Collective Old Oak London Residence will Provide a Co-Living Option
Trend Themes
1. Co-living Residences - Opportunity to invest in and innovate co-living spaces that offer affordability and convenience.
2. Shared Amenities - Opportunity to innovate shared amenities in living spaces to encourage community building.
3. Flexible Living Options - Opportunity to innovate flexible living options that cater to young professionals and those on a budget.
Industry Implications
1. Real Estate - Opportunity for real estate developers to invest in and create co-living spaces that offer affordable housing options.
2. Hospitality - Opportunity for hospitality industry to cater to longer-term accommodation needs and provide social spaces for community building.
3. Office Sharing - Opportunity to innovate office sharing spaces that cater to those who work remotely and living spaces co-working facilities.