Author : Eric Asare
The lockdown caused by the spread of the COVID-19 pandemic has made businesses and workers realize the critical importance and potential benefits of flexible working plans, which include working from home for some days or the whole week. Developers, operators, and built-to-rent designers in the UK are responding to this situation by incorporating co-working spaces within their developments. It is a win-win situation for both the developers and the residents.
How BTR Schemes Work
Build-to-Rent developments are at the forefront in providing a mix of amenities under one roof. Developers are looking at ways of merging the residential format with strategies used by hospitality and leisure sectors. They are creating an attractive alternative to the residential-only apartment blocks. It works well, especially for young professionals living alone or with small families. However, co-working is a sector that has been somewhat ignored by Build-to-Rent developers and operators.
But with recent developments, they want to reconsider this approach. The idea of a collaborative workplace can be crucialforBuild-to-Rent development's commercial success. People are beginning to appreciate the value of personal human interaction after a prolonged period of being isolated from each other. Developers of large buildings in key cities in the UK are finding it more challenging to fully lease apartment blocks without incorporating at least some co-working space within them.
Build-To-Rent and Co-Working A Harmonious Existence
Co-working offers incredible revenue potential, which has not been fully tapped by the Build-to-Rent sector. However, co-working space is not merely about revenue generation. In the present scenario where most people choose to work from home, co-working might soon become a necessity or even a pre-requisite in the coming times.
The Benefits of Co-Working FacilitiesforWorkers
There are multiple benefits of using co-working facilities. Those using the facility can:
- Hold meetings and collaborate
-Perform work that needs more space easily
-Experience the buzz of activity around them
-Avail of ancillary amenities
-Use only the space they need, sparing the need to find rented spaces
Co-working ensures a hospitality environment after having put in long hours of work. It helps create a sense of social connection. The space can be designed to work beyond the traditional 9 to 5 templateforthose with different working patterns. It can also work as a flexible and adaptable space that can be usedforfun and leisure when work times are over.
Designing a space that can adapt to the changing needs of the situation is crucial. Developers approach every project with adaptability at the core of their design mindset. A future-proof space design considers several factors such as collaborative spaces, meeting rooms, private booths, and spaces to assist easy hosting of meetings and conferences.
Architects must come up with plans and drawings to design the co-working space. In many cases, the design compromises both the office and the home. The provision of co-working space is rapidly changing how the BTR developments are being planned. Spaces are designed to provide more dynamic interaction with the outside. A functional and appealing front space is also seen as a positive move by the planning authorities.
Smart and Flexible Solutions
Flexibility is vitalforcreating a functional co-working space. Every aspect of space design, including furniture, can be smartly designed to allow the space to be repurposed when needed to keep pace with the changing situations. Existing spaces can also be usedforcreating a more informal, collaborative, or relaxed working setup. Ringley Group has strong expertise and experience in the Build-to-Rent, co-working, and residential sectors.
We offer sound and context-appropriate solutionsforBuild-to-Rent developers and operators. Why not come visit our very own 160 seat coworking centre called Camden Gateway situated at the gateway to London's trendy Camden Town, part of the Work by Ringley brand. Meet our very own Eric Assare and see the flavour he has!
About Work by Ringley: Rocknroll workspace in Camden
Work by Ringley is a boutique co-working company with its first flexible office space, Camden Gateway, just minutes from the bustling north London enclave famedforits gritty music heritage and busting market. Lovingly craftedforfresh-thinking start-ups or established firms that want new inspiration in their workspace, Work by Ringley gives firms a place to be proud of. Camden Gateway, comprises 10,000sq ft of flexible office space and has a range of designated fully-serviced private offices.Firms can work how they wish: in private spaces, on contracts or on wholly flexible terms.
Original features blend with 5G-ready tech infrastructure enabling superfast wireless working, with a bevvy of a beautiful space to create and collaborate. Work by Ringley was to help increase productivity and boost wellbeing with bags of natural daylight and artisan interiors furnished. Work by Ringley is powered by a cloud-based operational management platform, known as Busy Living.Forusers, this means they get a totally frictionless experience booking rooms and services, or creating their own events and socials with staff, customers or contacts.
With a relaxed atmosphere minutes from one Camdens world famous market, there are countless food options, myriad bars and pubs and a thriving music scene that will hopefully be turned back up to fall volume soon. In the meantime the Camden Town Brewery is the home of Hells larger is pulling one of the best craft brewed pints in the capital.
Mary-Anne Bowring FIRPM FRICS FARLA FCABE Founder/Head of Asset Management
Strategic partnerships, holistic delivery/ opportunities, growth, value engineering, thought leadership
Ian Barber MD BTR Mobilisation & Leasing
Runs HQ & site lease-up teams. Drives rent pricing, mobilisation, marketing, happy residents!
Jon Curtis MRICS Head of Building Engineering
Chartered Building Surveyor. Lectures on EWS1 & building safety. Runs CapEx programmes.
Kate Robinson MIRPM MD Blocks/FM Management (London Region)
Master plan setup, ops and staffing and resident engagement. ISO45001 champion.
Lee Harle Partner Ringley Law
Plot conveyancing. Debt litigation. Group Company Secretary.
Anthony Kingdon MIRPM AssocRICS MD Blocks/FM Management (North Region)
Stakeholder engagement. Mixed tenure specialist. Budget management. Plant audit, PPM compliance.
Chris Georgalis MRICS Head of Commercial Valuation
Chartered Valuer. Rental valuations: retail, leisure. IRR modelling and valuations for secured lending. Compulsory purchase & rent reviews
Nichola Pughe MRICS Head of Residential Valuation
Chartered Valuer. Rental development & mixed use valuations, IRR modelling. Leasehold enfranchisement specialist
Libby Chen MSc Compliance Manager
Operational Plant & Equipment strategy PPM Compliance lead, Asset tagging Client major projects
Dipesh Parekh Director PlanetRent
Customer centric, vertically integrated PropTech/fin-tech solutions.
Leana Aristodemou MIRPM MARLA AssocRICS Strategic lead: ESG & Asset Business Plan delivery
Financial modelling, valuation analyst to support underwriting & fund reporting.
Natalie Birmingham Helpdesk Support Manager
Trainer & Helpdesk Manager: people, systems,contractors. ISO45001 supply chain accreditation.
Steve Norman Planning Director
Land due diligence (opportunities & constraints) Has contributed to a number of award winning schemes.