UK: Developer Hub, in partnership with Bridges Fund Management, has submitted plans for a coliving-led development at 45 Beech Street in the City of London Corporation.
The scheme, known as Cornerstone, would deliver 174 coliving homes as well as new public realm, a ground-floor commercial space and on-site resident amenities.
Designed by Stirling Prize-winning practice Allford Hall Monaghan Morris, the proposal for Cornerstone would transform a 1950s office building into “a community-focused residential scheme that responds sensitively and creatively to the context of the iconic Barbican Estate”.
Hub says the proposed scheme takes a retrofit-first approach, saving 34 per cent embodied carbon compared to a new-build scheme of the same scale. The scheme would also target BREEAM Excellent, EPC A, Fitwel 3* and Net Zero operational carbon.
Celia Harrison, director at Bridges Fund Management, said: “This ambitious co-living development would not only help to tackle the dearth of high-quality rental accommodation in London; it would also bring an under-occupied building back into economic use and make it more environmentally efficient, supporting the decarbonisation of the built environment. Coliving is becoming increasingly popular across Europe, providing much-needed sustainable housing in urban locations. We’re excited about the potential of our proposals at Beech Street to help address the clear shortage of homes in the city.”
Tom Stoneham, senior development manager at HUB, added: “The opportunity to develop a scheme adjacent to the most iconic residential development in London is hugely exciting. The Barbican pioneered city centre living, and our proposed scheme seeks to continue this legacy, providing a new kind of residential offering for the area. Our proposals would reinvigorate an existing building at risk of becoming a stranded asset, demonstrating the potential for new models like co-living to not only bring new homes to city centres, but also to minimise carbon emissions by giving new life to tired office buildings.”
