Miles Street Vauxhall
David Taylor
And what can London learn from those other cities that you mentioned you're working in, like Milan, on this?
Nenad Manasijevic
Well, I think it's probably having a better understanding of what is the right typology, what that studio apartment for a single person needs to contain, because they need space standards, but they need to be appropriate. And also, the emphasis on communal living. So, it's really the amenity which would support that community of 100, 200, 300 people together. Which again does create its own challenges. But again, it definitely beats living by oneself. Again, it's really about a choice; of basically wanting to have a choice of accommodation. A person can choose what really suits their needs, and I think that's where co-living can really sit with the requisite topology, which are going to market for the people who really prefer to live by themselves but within a community. I think that's where co-living can be successful
David Taylor
Do any of your own staff live in co-living schemes, as far as you're aware?
Nenad Manasijevic
They would love to if there were some on the market! As a concept it has definitely hit all the right boxes, but there are not too many co-living schemes in London. There is one at Old Oak Common and there are a few others, but I think it's a really emerging topology. I think at the right price points, right location, there is definitely a great interest from our staff for something like that, especially in that it is tailored for the people who are in the stage of their career before kids. We need to capture those demographics, or after kids or in any kind of shape of people who at the moment live by themselves.
David Taylor
And lastly, presumably, you believe this sort of typology would be useful in stopping people exiting the city, exiting London – youngsters who are priced out?
Nenad Manasijevic
Absolutely, absolutely. Because affordability is very important. And I think that's where space standards come into play as well. Because if you, for example, need to build a 37 square metre apartment, as opposed to a 25 square meter apartment, that's where cost comes into play with rental levels and everything else. I think having finely designed and calibrated products, which can then be on the market for the right price, that would definitely be a major step in the right direction in terms of sorting out the housing needs, because we have quite a few clients who are priced out of London. And something like that would definitely help.
David Taylor
You have quite a few in your own office, did you say?
Nenad Manasijevic
Well, you know, we are an office of over 300 architects and interior designers, and we have a few of our youngest staff who are in need of appropriate accommodation in London.
David Taylor
What are they doing at the moment? Are they commuting long distance?
Nenad Manasijevic
Well, actually, they either live in rather small accommodation in London or anecdotally, one of my team members just moved to Colchester, where he's got a flat and then he commutes. At the moment, because of lockdown. It's not every day, but yeah. What do you do? You choose a slightly longer commute and a better apartment or a small apartment in London. I think that's probably where co-living could help create something where these people do not need to go to Essex - they can actually still enjoy living in London.
David Taylor
Yeah, well good luck with it all. And thank you for your insights on this interesting sector.
Nenad Manasijevic
My pleasure, David, My pleasure.
David Taylor
Thank you very much.
Nenad Manasijevic
Yeah. Good talking to you. Bye!