London-based commercial real estate firm DTZ Investors is launching its own coliving brand called Folk just days after the Liverpool City Council introduced new rules that would limit coliving developments.
This new platform comes from COLIV, which is run by DTZ and was originally a partnership with coliving provider The Collective before the operator fell into administration.
Folk’s first location will be situated at the Palm House in Harrow, which will feature 222 studios across 87,000 square feet.
“The brand will give its residents the opportunity to enjoy new experiences every day through a varied programme of events, ranging from morning yoga to evening hackathons,” said DTZ in a statement.
However, when Folk was just days from launching its £55 million debut at the Palm House, the city council enacted the new rule. This follows in the footsteps of Manchester City Council, which also introduced a new planning guidance that pivots from coliving developments unless they can fulfill local employment needs.
These rulings aim to address the desire for longer leases, as well as more family homes and mix-size units within coliving, rather than smaller coliving pilots.
Due to the lack of council support, coliving in the region may remain niche for the time being.