Shawbrook supports Urban Centric’s Cardiff co-living scheme
Shawbrook has provided Urban Centric with a £23.8m loan to support the development of Wales’s first co-living scheme.
Located in Cardiff, the development will transform a 60,000 sq ft office building at Knox Court into a co-living scheme comprising 203 homes.
It will include amenities such as a gym, private dining areas and a cinema. The debt funding will cover the construction, including the addition of two new floors, and assist with tenant acquisition. The project is scheduled for completion in January 2026.
Shawbrook has provided Urban Centric with a £23.8m loan to support the development of Wales’s first co-living scheme.
Located in Cardiff, the development will transform a 60,000 sq ft office building at Knox Court into a co-living scheme comprising 203 homes.
It will include amenities such as a gym, private dining areas and a cinema. The debt funding will cover the construction, including the addition of two new floors, and assist with tenant acquisition. The project is scheduled for completion in January 2026.
In May, Urban Centric received a £7.6m equity investment from Housing Growth Partnership, part of the Lloyds Banking Group, to enable the acquisition of the site.
John Hughes, senior relationship director at Shawbrook, said: “We are pleased to support Urban Centric in launching Wales’s first co-living scheme. This partnership, alongside the Housing Growth Partnership, combines our financial expertise with their innovative vision, propelling the project forward.
“Co-living offers a flexible, community-focused living experience that resonates with today’s urban residents seeking affordability and connection. Working with Urban Centric again underscores our commitment at Shawbrook to fostering strong relationships with developers. By understanding the unique needs of each project, we deliver tailored funding solutions that provide the stability essential for successful completion and future growth.”
Andrew Wood, director at Urban Centric, added: “Following the successful completion of our first scheme with Shawbrook in Swansea in 2022, we are delighted to partner with them once again on this landmark project. Their flexible and tailored funding approach has been instrumental in helping us bring our vision to life, and we look forward to working with them in the future.”
Image from Housing Growth Partnership
