New 145 Co-Living Flats Planned for Reading

A plan to demolish the Revolucion de Cuba bar and the neighbouring Fone Store in Reading town centre would make way for 145 co-living flats. The scheme was originally for a 163-room hotel that would have incorporated The Bugle pub.

The flats would be managed by Verv Life, which runs about 2,500 units across the UK, including Clay Wembley and Paradise View in Birmingham.

Richard Leedham's management plan says: "VervLife will manage the accommodation with one simple objective - to provide exceptional service to the clients whose properties they manage, and to the residents who live in them."

He adds: "The site is ideally located to attract residents who work or are being educated locally or working within the Reading area, as well as the wider areas such as London, due to its convenient location close to the station."

"Co-living units will be available to private renters who meet our referencing criteria," the plan says. Verv Life pays the living wage and has a no printing and no single-use plastics policy.

Mr Leedham states: "The typical renters in a new co-living block are likely to be young professionals, freelancers, and students who are in the early to mid-stages of their careers." He also said: "The age range for this group typically falls between 20 and 35 years, but also older, e.g. divorced, professionals etc., as this demographic is often seeking affordable, flexible living arrangements with a sense of community."

Co-living is not classed as affordable housing in planning policy. The developer has submitted an economic viability assessment and offered to fund affordable housing elsewhere in Reading.

The management plan is among the documents for application PL/26/1121 on Reading Borough Council's planning portal.

In April last year councillors approved 266 co-living flats to replace the probation office in Greyfriars Road. The applicant, Elder Developments, agreed to pay approximately £3.5 million to the council in instalments to fund affordable housing elsewhere in the borough.

James Aldridge, Local Democracy Reporter