Fund manager DTZ Investors
(DTZI) and co-living platform The Collective have launched a joint institutional co-living fund
with the aim of raising total equity of up to £650m.
The fund, COLIV, will seek
to acquire or forward-fund 6-10 co-living schemes in London with a target gross asset value of £1bn
over the ten year lifespan of the fund. It has already made its first
acquisition in The Collective Harrow, located in the London Borough of Harrow,
to start on site immediately.
DTZ Investors’ CEO, Chris
Cooper, says: “We are delighted to announce the launch of COLIV, the world’s
first large-scale co-living fund in partnership with The Collective. It’s an
important step in the development of our business to be leading the market in
the delivery of innovative solutions to London’s
housing shortage. This fund will bring forward a strong social agenda through:
the buildings and places we create; the manner in which we engage with our
communities and; the way in which we foster wellbeing for members.
“Co-living is an ideal response to the needs of London’s rented housing market, building on
the principles of quality, convenience and community. Modern London life is a conundrum: urban living and
technology have managed to create a society that is constantly connected yet
alone. People and communities are being pushed apart, contributing to
significant loneliness and mental health issues.”
Co-living, where residents of a property have a degree of shared living space, is something of a buzz word in property investment and development at the moment. However, keen though developers seem to be to promote it, it still remains to be proven as to whether it will ever be more than niche so far as tenants are concerned.