There’s no denying that PBSA has seen one of the largest portions of investments in the entire housing market, in fact 2016 saw 3.1bn injected into the market but, with the clear majority of funds going into high-end student accommodation developments, what trends are emerging and how can we add a fresh twist on the current student housing models?
Sheffield is set to open its first “Communal Living” space at Jonas Court Student Accommodation. The building will play host to students in addition to long stay professional residents and business people. The structure will contain 57 en-suite bedrooms with shared kitchens for long-stay students or visitors as well as 22 en-suite hotel rooms which can be rented for up to 7 days.
The co-living structure lends the idea from The Student Hotel in Amsterdam where students and professionals alike are encouraged to work together in co-living and co-working spaces. It’s now becoming one of Europe’s biggest hybrid accommodations, it boasts a “Complete Connected Community” and aims to build 41 properties across Europe by 2021.
Like its muse and lending from much of the high-end PBSA around, Jonas Court offers a Cinema, Laundry Room, Communal lounges and quiet areas to work. However the opportunity for students to mix with graduates and professionals is a unique take on Student life. The chance to network and learn from others whilst enjoying the student experience seems like an extraordinary opportunity. Finding out about what young professionals like themselves have done and sharing inspiration from an eclectic mix of people adds a new edge and could inspire the paths of some students.
There are benefits of the hybrid living model for everybody, not just for students, the space being a comforting middleman for young professionals choosing to stay in the cities that they studied in, the chance to be part of a community and meet new people when many of their university friends have left the city is incredibly important to well-being as well as the added advantage on networking opportunities. For business professionals travelling alone for work, it can be a lonely task. We shouldn’t run on the assumption that all travelling business professionals are dull middle-aged people with no interest in socialising. Being in an accommodation with busy communal areas and the chance to socialise could really enhance work travel for many professionals.
Whilst this model certainly won’t appeal to everyone, It’s clear that there are benefits for all involved and there is definitely scope for this style of living to be hugely popular and if so, a fresh market for keen investors. With falling student numbers, whilst not enough alone to greatly impact the market, along with the large amount of developments in process, hybrid living could be a viable change of use for underused accommodations as well as a focus for the future.
As part of LOFT Interiors, Student-Furniture has the expertise in designing and furnishing both high quality PBSA and luxury PRS apartments, placing us perfectly to cater to co-living developments. Our team works closely with each of our customers to develop bespoke concepts and furnishing packages perfectly suited to both students and young professionals and our team is already excited to see the possibilities that co-living will bring to the market. For more information on how we can help realise your concept, contact a member of our team here.