City of London Approves New Co-Living Development at 45 Beech Street
London gets the go-ahead for a significant co-living development at 45 Beech Street, also known as Murray House, approved by the City of London Corporation’s Planning Applications Sub-Committee. The project will involve the partial demolition and extension of the existing building to deliver 174 private rental co-living units, featuring a variety of internal and external amenities designed to foster community living. The redevelopment includes communal cooking, dining, and working areas, along with cycle storage and servicing. The surrounding public space will undergo extensive landscaping, transforming the area into a exciting new destination and cultural space within the City.
A New Approach to City Living
Currently an office building, 45 Beech Street sits within a predominantly residential area, adjacent to Bryer Court, the Barbican Estate, and Bridgewater House. Given its location, the site was deemed highly suitable for co-living use, aligning with the City’s broader strategy to diversify accommodation options in central London. The approved development includes a contribution of over £8.5 million towards off-site affordable housing, helping to address the city’s housing shortage. According to insights from Property Week, co-living developments are increasingly seen as a sustainable solution to London’s housing challenges.
This decision follows a series of similar retrofit project approvals by the City Corporation, such as the recent refurbishment of the iconic office building at 60 Queen Victoria Street. The 45 Beech Street project will incorporate sustainable design features, including natural ventilation to combat overheating, water-saving measures, and provisions for urban greening and biodiversity. The development is expected to connect to a nearby district heating network upon completion, enhancing its energy efficiency and climate resilience.
The Rise of Co-Living in London
Co-living has gained traction in London as a viable alternative to traditional rental accommodations, particularly for young professionals and those seeking flexible living arrangements. This housing model offers fixed living costs, communal facilities, and short-term lease options, often at more affordable rates than conventional rentals. It serves as an appealing option for those who do not qualify for affordable housing, do not want to buy, or are priced out of the city’s high-cost rental market.
Shravan Joshi, Chair of the City of London Corporation’s Planning and Transportation Committee, emphasised the importance of co-living in modern urban planning:
“Co-living developments are becoming an important part of the mix for city living, particularly in providing more accommodation for young people, as we continue to transform the Square Mile into a thriving seven-day and evening destination, for everyone. Also, with the built environment sector accounting for around 40% of total carbon emissions, retrofitting is crucial for meeting our net zero goals.”
He added, “By working with stakeholders to deliver pragmatic policies that will help transition to net zero effectively, we aim to be the most attractive and sustainable global city for generations to come.”
A New Chapter for Beech Street
The 45 Beech Street development reflects a broader trend of sustainable urban transformation, combining modern housing solutions with environmental considerations. By integrating co-living into the heart of the City, this project not only expands accommodation options but also contributes to the ongoing effort to make London a more inclusive, sustainable, and exciting place to live and work.
For more updates on London’s evolving urban landscape, keep an eye on EyeOnLondon for the latest insights and developments.
