A new co-living brand is being launched to target the ‘boutique’ end of the market.
Mason & Fifth has been set up by David Silver, who co-founded investment advisory firm Burlington Partners and was a partner at City-fringe commercial agency Richard Susskind, along with Ben Prevezer, who has an events and hospitality background.
It has secured two properties – a 28-unit scheme in Bermondsey that is set to launch in August and another in Gloucester Place in Marylebone that will launch shortly after.
The concept is focused on wellness and community living, and Mason & Fifth said that its studios would be larger than those of its co-living competitors.
Each will include a shower room, kitchenette and small dining area. “We are erring on the side of generosity, because our longevity depends on the quality of our offering,” Silver told Property Week.
The Bermondsey scheme will also include a ‘wellness pavilion’ for yoga, pilates and meditation, and residents will have the option to use an in-house chef.
Mason & Fifth’s buildings will be small or medium sized, generally comprising up to 200 units. “It’s about how the buildings are operated, and how they will change the residents’ day-to-day lives,” Prevezer said. “We want to build a community.”
Silver said that Mason & Fifth was initially focusing on London but would like to have a “global network”.
The Bermondsey acquisition was backed by pan-European real estate investment club FORE Partnership, marking its first co-living project.
FORE and Mason & Fifth have ambitions to roll out co-living buildings in key cities across Europe, and Mason & Fifth also wants to develop private rented sector buildings and studio flats.
Both the Bermondsey and Marylebone buildings are period conversions, but Mason & Fifth will also take on new developments.