Hackney (Parliament Politics Magazine) – Moro’s 150-Bed co-living scheme in Haggerston secured approval, adding affordable workspace, housing, and amenities like a gym and rooftop spaces.
Following approvals in Surrey Quays, Hackney Wick, and Walthamstow, this is the fourth significant co-living project in the capital that Morro has obtained planning permission for. This shows the team’s dedication to providing a wide variety of desperately needed housing options to the London market.
What are the key features of Morro’s Haggerston co-living scheme?
Modern urban life is supported by the project’s improved amenities provision.
The plan will revive a 0.2-hectare property that is currently vacant by delivering additional co-living units, up from the 121 homes that were first approved in December 2020. All tenants have access to a landscaped rooftop, co-working areas, and a gym as amenities.
Only 300 metres from Haggerston Overground Station, it provides good access to Shoreditch, the City, and the Victoria Line via Highbury and Islington.
It offers picturesque views and close access to green areas like London Fields due to its back onto the Regent’s Canal.
While keeping the same visual and heritage impact, the updated designs add 31 more houses than the first 2020 submission.
The formerly unoccupied location will be restored to offer top-notch lodging.
The plan incorporates more than 1,500 square meters of affordable workspace and helps Hackney’s housing goals.
To lessen the carbon footprint of the development, it integrates renewable technology like solar photovoltaics.
Both direct and indirect jobs are anticipated to be created throughout development and operation.
Neil Smith, Managing Director at Morro and Scape Group, said:
“At Morro, we are committed to providing flexible, thoughtful, and well-designed housing that meet the needs of contemporary city living. We’re delighted to be working closely with Veretec, Ab Rogers Design, Nicola Harding Design and Hackney Council to transform this site into high quality, canal-side living and contribute to the rich and dynamic character of the area.
On-site work will probably start by the end of the year.
What are the benefits of this Morro’s co-living scheme?
The Haggerston co-living program from Morro provides a number of advantages that complement the more general benefits of co-living complexes.
With housing rates in London notoriously high, co-living places like Morro’s plan provide a more affordable option to traditional renting. All-inclusive rent arrangements that include utilities and facilities help residents by lowering their financial obligations.
Residents no longer have to handle utilities, furniture, or upkeep because the program provides completely furnished apartments with shared amenities. Young professionals and anyone looking for hassle-free living arrangements may find this convenience enticing.
Co-living fosters a sense of community through shared spaces and events. Residents can reduce the isolation that comes with living in an urban area by making connections with like-minded individuals.
Morro’s plan probably provides adjustable lease terms, enabling residents to modify their living arrangements as necessary. For people who don’t want to commit to long-term renting agreements or have unclear long-term plans, this flexibility is essential.
The Haggerston location of the development enhances tenants’ quality of life and connectivity to the larger London area by being close to important transit hubs and neighborhood amenities.
What is driving the rapid growth of co-living in London?
Co-living has grown significantly in London due to several causes, including changing consumer attitudes, urbanization, and cost restrictions.
Since 2019, the number of operating co-living residences in the UK has increased fivefold, reaching 7,540 units by 2023.
Since 2020, around £1 billion has been invested in co-living projects, and in 2023 alone, the number of additional beds delivered increased by 65%.
Although the pipeline is growing to other locations, London leads the market with 74% of all co-living developments.
Policy H16 of the London Plan encourages extensive, purpose-built shared living projects with a focus on communal facilities and high-quality design.
Only nine London boroughs, however, have co-living-friendly policies in place; the others rely on the London Plan or GLA guidelines.
Approximately 630,000 people who currently rent shared housing in London alone make up the co-living target market.
Even with its quick growth, current delivery only makes up 0.4% of the target market, suggesting room for substantial development.
In addition to communal kitchens and toilets, contemporary co-living facilities emphasize social interaction and community development by providing amenities like gyms, rooftop gardens, and co-working areas.
For these experiences and flexible living options, residents are prepared to spend more.
Due to high demand and investor interest, the supply of co-living units is predicted to almost triple to over 20,000 units by 2027.
Outside of London, regional cities like Manchester, Birmingham, and Liverpool are becoming important markets.