Gravity Co-living sees rapid growth

London-based co-living & PRS company - Gravity Co-living - sees rapid growth as it fills it’s forth property in a few months.

Gravity Co-Living West Court, Hounslow | BTR News
Gravity Co-Living West Court, Hounslow.

London based co-living & PRS operator – Gravity Co-living – continues to see rapid growth and interest in its co-living properties as it fills its fourth location within the first three months of trading. The success of Gravity’s newest property means that the portfolio has now reached 100% occupancy with all new applicants having to join a waiting list.

Gravity launched its latest and largest property to date in Hounslow, West London in July 2021, adding 97 studios to the Gravity family and doubling the size of the portfolio. Substantial investment has gone into refurbishing the property, enabling Gravity to create a smarter, more engaging shared-living experience for its members, shaping cleverly designed studios equipped with everything needed for modern day living. There is also a spacious, contemporary co-working / lounge space; the beating social hub of the building.

Communal area at Gravity Co-Living West Court, Hounslow | BTR News
Communal area at Gravity Co-Living West Court, Hounslow.

“The co-living sector has been on a bit of a rocky road over the past 18 months, but with co-living now becoming increasingly familiar to developers and institutional investors, it’s an area of renting that is starting to get much more attention. Managing both co-living and PRS properties, Gravity grew 460% throughout the pandemic and we’re noticing that as we begin to move out of it, we’re continuing to see an increase in interest in our properties and are being approached by a larger pool of developers and real estate investors interested in entering the space. Our website alone has seen an uplift in 40% traffic since the start of the year.”

Riccardo Tessaro, Co-Founder and CEO, Gravity

Testament of how the area is rapidly changing is the opening of a brand-new food market, the completion of Barratt’s High Street Quarter development, and the planning permission being granted for a 248-bed purpose built co-living scheme.

Classic studio at Gravity Co-Living West Court, Hounslow | BTR News
Classic studio at Gravity Co-Living West Court, Hounslow.

Gravity focuses on community, flexibility, wellbeing and professional growth. The operator is more than just a place to live and places community at its very core. With studies showing that the feeling of loneliness had increased amongst young adults in 2020 by 15% over a nine-month period, creating an environment that encourages social connection has never been so important.

With a tailored weekly schedule, Gravity members are given the opportunity to join social events, wellness activities and professional workshops – designed to enhance their living and social experience as well as enriching their personal wellbeing. The goal for Gravity is to ensure its members create meaningful connections and build lasting friendships.

“There are so many added benefits that can come with co-living. At Gravity for example, not only do we run weekly events, but our members also have access to our free Gravity app; a platform which amongst other things offers free access to 24/7 wellbeing and mental health support.”

Susannah Rock, Co-Founder and CIO, Gravity
Master studio at Gravity Co-Living West Court, Hounslow | BTR News
Master studio at Gravity Co-Living West Court, Hounslow.

Gravity has adopted a delicate approach during its early years – allowing it to remain agile and adapt to the changing environment. It’s secret is teaming up with some of the best-in-class PRS & co-living landlords, signing deals to build a strong brand and a long-term business, and having a dexterous team who strive to deliver exceptional operations and returns for stakeholders.

“Having seen the purpose-built student accommodation sector grow across UK & indeed the world in the last 30 years or so, it is fascinating to now see the co-living sector rapidly evolving as it becomes a recognised living sector that provides a sociable, comfortable, secure and convenient living space in the city. Gravity are among the leaders in providing innovative city-living solutions for those who also want to feel part of a community.”

Philip Hillman, Chairman – Living Capital Markets, JLL

Moving into 2022, Gravity look to further expand their portfolio through their flexible approach to working with landlords, securing assets via either management or lease agreements and by co-investing alongside real estate capital partners to develop and purchase co-living and PRS assets in the UK and Europe’s top tier cities.