Investor plans to turn Chiswick Tower into 415-bedroom ‘co-living’ block

Image: Chiswick Tower

Office block could be turned into huge ‘affordable housing’ block

The investor who is buying Chiswick Tower is reportedly planning to change the building into a 415-bed ‘co-living’ space.

According to The Standard the secret investor’s offering will include activities such as yoga classes as well as co-working spaces.

Co-living is a relatively new concept of housing, characterised by small individual private units supported by adjacent communal facilities, such as shared kitchens, lounges and amenity spaces. The model is being marketed largely to appeal to younger professionals looking for communal living.

The investor wants to turn the 190-space car park into an “affordable housing scheme“ as part of these plans.

The 19-storey office block was built in 1966 as the headquarters of IBM. After IBM left in 1992 the tower was then taken over in 1995 by BSI (British Standards Institution) after a major refurbishment.

Chiswick Tower changed hands again in 2010 when it was bought by Hermes Real Estate for a reported £56.5 million in 2013, and continued to be let as office space.

The identity of the new owner has not been revealed, but speculation in The Standard suggested they were based in the Middle East and ASK Partners has described them as a private investor.

Elliot Blatt, Head of Origination at ASK said:

“Our client has a very sound business plan to repurpose this building, adding value to an already desirable development site.

“We are definitely seeing appetite for co-living increase, as the set-up has gained in popularity amongst graduates and young professionals.”