Glossary definition
Co-Living
A form of purpose-built shared accommodation where residents have private bedrooms or studios with access to generous communal facilities such as kitchens, lounges, co-working spaces, and gyms. Co-living developments fall under sui generis use and require full planning permission in most local authorities.
Definition
A form of purpose-built shared accommodation where residents have private bedrooms or studios with access to generous communal facilities such as kitchens, lounges, co-working spaces, and gyms. Co-living developments fall under sui generis use and require full planning permission in most local authorities. Lenders are increasingly willing to fund co-living schemes, though they typically require stronger sponsor covenants and may cap leverage at 55–60% LTGDV given the relatively nascent exit market.
See also
Closely related terms.
HMO (House in Multiple Occupation)
A property rented out to three or more tenants who form two or more separate households and share a kitchen, bathroom, or toilet.
Build to Rent (BTR)
Purpose-built residential accommodation designed specifically for the private rental market rather than individual sale, typically held as a single investment by an institutional owner.
Use Class
The classification system under the Town and Country Planning (Use Classes) Order that groups similar land and property uses together.
Planning Permission
Formal consent from the local planning authority required before carrying out most types of development, including new construction, material changes of use, and significant alterations to existing buildings.
Further reading
Guides that touch this term.
Guide
How Does Development Finance Work? A Complete Guide for UK Developers
A ground-up guide to how development finance is structured in the UK, covering loan mechanics, drawdown schedules, monitoring surveyors, and what lenders look for in your application.
5 min read readReadGuide
UK Development Finance Market 2026: Rates, Trends and Outlook
A comprehensive overview of the UK development finance market in 2026, covering current interest rates, lender appetite, emerging trends, and what developers should expect over the coming 12 months.
9 min read readReadGuide
The Capital Stack in Property Development: How to Structure Your Funding
A comprehensive guide to understanding and structuring the capital stack in UK property development, from senior debt through mezzanine to equity contributions.
9 min read readRead
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