Packaged Living Secures First Co-Living Site in Woolwich

Shoosmiths has facilitated the acquisition of a site in Woolwich, southeast London, marking the initiation of Packaged Living's new co-living strategy. The law firm aided in the legal and tax facets of the transaction, which transforms a mixed-use commercial property into a 40m co-living scheme featuring 150 homes. Packaged Living acquired this site in collaboration with its joint venture partner Buccleuch Property. This deal symbolizes the first co-living project for Packaged Living as they endeavor to address London's rental housing inadequacies with multiple strategies. Shoosmiths was instrumental in conducting due diligence and drafting acquisition documents. The transaction is aligned with a broader industry trend towards co-living, suggesting a novel solution to urban housing scarcity.