Plans for a new 75,082 sq ft building in Haggerston, E8, providing flexible workspace and co-living have been approved by Hackney Council.
Designed by pH+ Architects for Pause (Kingsland Road Developments), the scheme at 305A Kingsland Road, E8, will create 121 co-living units above 41,326 sq ft of commercial space in a property rising to six storeys.
The flexible workspace will provide serviced suites, co-working spaces and communal break-out areas, while the lower ground floor will offer light industrial space for workshops.
Reviews of the scheme from BNP Paribas Real Estate said the workspace could generate an average rent of £23.75 per sq ft, while the co-living units could generate revenue of around £31.19m, equating to a blended capital value of circa £924 per sq ft.
The agent also reported that Pause expects an average rent per week of £360 per unit.
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