The family that owns Selfridges and Fortnum & Mason is planning a move into co-living with a 540-bedroom development in Croydon.
Wittington Investments, the investment arm of the Weston family, and co-living operate Fifth State are working up plans for a shared living development following its acquisition of City Link House at the end of last year.
Wittington acquired the 48,000 sq ft office at City Link House opposite East Croydon station from Picton Property for £18.2m last November.
It has lodged a screening request with Croydon Council for a 27-storey residential tower, with 540 co-living bedrooms, 80 flats and amenities including kitchens, break-out spaces, a gym, cinema room and co-working spaces from architects Squire and Partners. Proposals as part of a community consultation include rooms ranging from 21 sq m to 30 sq m.
The 0.5-acre site on Addiscombe Road comprises two connected five-storey office blocks currently occupied by Royal Bank of Scotland and Fairfield School of Business.
Wittington acquired the building with 10% vacancy and full vacant possession in 2022. Both businesses intend to stay in the borough and RBS plans to relocate its team to its office on Eldridge Road.
The application follows Croydon Council’s approval of Tide Construction’s 817-bedroom co-living scheme on College Road in February. The proposals would create the largest co-living scheme in the capital and are currently awaiting a final verdict from the Greater London Authority.
The council has been positive about opportunities for co-living in the borough, with the planning committee seeing the potential for high-density building in city centre areas with little space and the value in communities.
Alongside Selfridges and Fortnum & Mason, the Weston family also has interests in Primark owner Associated British Foods and a largely commercial property portfolio.
Fifth State is a co-living developer and operator founded by former Knight Frank investment agent Alex Springer. The company launched with a debut scheme in Ilford in 2017 for Aurora Real Estate and a plan to deliver 5,000 homes in six years. The scheme was referable to the GLA and despite a positive stage 1 report, it was pulled and the site was put back on the market.
The GLA has still yet to approve a single scheme, with Tide’s College Road scheme expected to be the first to receive a final decision at stage 2.
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