Developer completes £12.5m co-living scheme

A £12.5m co-living development in Wolverhampton has reached practical completion.

The Studios24 has transformed a dilapidated 12-storey office building into accommodation for more than 200 residents.

Situated in Birch Street, The Studios24 has been welcoming residents since late 2018, providing homes for more people as each phase of the development has been completed.

The final phase, comprising 17 top floor penthouse en-suite studios, is now ready for new residents.

Barry Glantz, managing director of The Studios24, said: “It’s been a wonderful journey to reach this point and we’ve learned a lot along the way. We took a leap of faith and were the first to develop co-living accommodation in the Midlands, so it’s really great to see the place constantly buzzing with activity, with residents enjoying their studios and the rest of the facilities.

“It’s been amazing to watch our dream of bringing co-living to Wolverhampton become an exciting reality. Now, we have reached practical completion and we are able to open the final floor of 17 studios to residents. It’s a major milestone for us and we’ve clearly demonstrated that the co-living concept can be successful outside London. Local people and businesses have really embraced co-living – largely because it offers a great lifestyle at a very affordable price.”

He added: “We’ve got a very strong demographic mix among our residents at The Studios24. Only 10 are students and they are post-graduates. The rest are working in sectors such as healthcare, construction, education, human resources, and technology.”