Historic Peterborough building to become co-living apartments after plans approved

Applicant, Real Property Assets Limited, intends to transform the former office building at 43 Priestgate into 19 fully furnished, single occupancy en-suite units.

The development at the Grade II Listed building will be classed as co-living space, which the applicant believes will bring diversification in the city’s rental accommodation offer.

“It offers membership style accommodation and helps to counteract loneliness, provides autonomous style living for older demographics, recognises later entry to adulthood and helps provide for the comfort and social requirements of young professionals,” a planning document stated.

All residents will have to be in either employment or a full-time student, including: students at the new Peterborough university, professionals on short term or part time assignments in the city, retirees who want a flexible communal living environment in a central location, and single people saving to buy a home.

Costs will be covered under a single monthly charge including utility bills, broadband, and cleaning services.

The building at 43 Priestgate is thought to have been built around the late 18th century.

Planning documents stated: “The proposed change of use is deemed to align with the ongoing transition of Priestgate into a predominantly residential street.

“The area has seen a marked decline in professional services occupancy, with many former office buildings now converted into residential.”

Planning officers approved the application on September 8, meaning development must begin within three years.