WeWork subsidiary WeLive has submitted plans for its first London site, near Old Street Roundabout, EC1.
The scheme will be part of Rocket Investments’ 40-storey residential tower scheme “The Atlas”, which has an adjoining 10-storey office building. WeWork is fitting out the lower eight floors for around 100,000 sq ft of offices, having acquired a long lease for the entire building.
WeLive will occupy the top two floors, in the form of serviced apartments, equating to 26 beds. A change-of-use application has been submitted.
Fit-out of the WeWork offices is expected to be completed by the end of 2018. The offices will provide around 1,396 desk spaces, as well as a range of facilities and amenities, including conference rooms, phone booths and events spaces.
According to the planning documents, “The co-living subsidiary of serviced offer giant WeWork provides a new format of short-stay and longer-term accommodation based on community.”
WeLive currently operates two purpose-built buildings – in New York City and Washington DC – and is expanding into other leading cities across the world, including London, Seattle and Tel Aviv.
The brand has grown in recent years to include fitness space provider Rise by We, and this year will open its first private elementary school, WeGrow, in New York, as well as the communal housing offer of WeLive.
Although co-living got the green light as a concept within the draft London Plan, the GLA has yet to grant consent to a single co-living scheme. Operators in the fledgling sector such as the Collective are operating sui generis and short-stay serviced apartment consents, as a way of getting local authorities – as well as the mayor’s office – on board with the model.
What does the co-living sector need to do to get the all-important stamp of approval from the GLA?
WeWork has been assessing potential London sites for its first WeLive for several months, with projects considered including The Stage, the Cain Hoy-led development where it has prelet 240,000 sq ft.
GVA is acting as agent.
WeWork: 5 things you need to know
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