The development in Earlsfield, South London is a 298 unit co-living scheme, offering a plethora of shared living space for residents, including a number of kitchen and dining areas, cinema, spa, library, laundry facilities, flexible workspace and a fully equipped gym.
Relative to other studio and one-bedroom new build options, the proposed rental pricing is highly competitive as it includes water, gas, electricity, Wi-Fi, gym access, room clean & linen change, council tax, luggage storage and, of course, access to all of the shared building facilities.
The external building will be in-keeping with the industrial heritage of the location which was previously home to a famed gun-power mill used during the 17th Century Anglo-Dutch wars.
The Collective are at the forefront of the co-living movement and are regarded as pioneers in the space. They successfully completed the build of their Old Oak scheme in North London in Q2 2016 which has run at 90%+ occupancy since Q3 2016, reaching 99% occupancy in 2018 despite a 4% increase in rental price. The group has since taken a number of sites successfully through the planning process, refined its product and hasbuilt up a well-known brand.
This is a four phase transaction providing investors with multiple opportunities for value uplift.
The proposed scheme is located in Earlsfield, a highly desirable and affluent suburb of south-west London within the Borough of Wandsworth. Earlsfield is situated between Clapham, Wimbledon and Wandsworth town, and sitting adjacent to the picturesque River Wandle, which runs through the local area.
Situated in Zone 3, the proposed scheme is just 5 minutes walk away from Earlsfield station, providing a direct line into London Waterloo via Clapham Junction and Vauxhall. Frequent buses and the close proximity to Wimbledon Park tube station ensures that access to London’s other commercial hubs will be easily achievable for residents.
The demographics of the area make it perfect for the proposed scheme. Earlsfield exhibits a young, thriving population with unemployment levels incredibly low relative to the rest of London at 3.5%.