A groundbreaking new co-living brand with a focus on mental wellbeing and environmental impact benefits has announced major European expansion plans.
Gravity Co-living’s CEO and co-founder Riccardo Tessaro confirmed today that the success of the company’s flagship co-living space in London’s Finsbury Park enabled the developments.
“What we have seen has been beyond our forecasted expectations,” said Riccardo Tessaro.
“To arrive in the capital with a bold new concept and to see it flourish at such an incredible rate is quite something.
“Without publicity we were flooded with membership applications to join our community, we could have filled our first location ten times over.
“We feel humbled but proud.”
The coliving startup aims to build a 10,000 bed portfolio targeting major business hubs worldwide by 2026.
Rental pressures are an escalating problem in London. People are spending an average of 42% on their salaries, according to the latest figures.
Gravity Co-living presents a bold and unusual model for people looking to rent rather than buy.
Professionals arriving in London for the first time have been attracted by the company’s all-inclusive living costs model. A single membership payment covers everything from rent to taxes, utilities, high-speed wifi, and cleaning services.
What marks Gravity out as being different to traditional flat sharing is the inclusion of community managers.
A mobile app also gifts members complimentary weekly events and activities. Members can also enjoy access to a growing network of services and discounts with partner companies such as EdX, Oval Money, Revolut and Pure Gym.
“We saw this huge gap in the market,” said Riccardo Tessaro.
“People arrive in this fabulous city and might not know for definite – particularly in these political times – how long they will be staying for. Young professionals are highly mobile in today’s world. Both employers and employees value international work experiences so they really appreciate what we have to offer.”
“Ask yourself, what are the current dated options? A lonely and expensive serviced apartment? Airbnb? A flat share with amateur managership? In reality, people struggle to find a mid to long term all-inclusive, flexible lease in a house or flat.”
“I thought something better must exist so, alongside my business partner Susanna Rock, we developed the ultimate co-living space for young professionals.”
Gravity Co-living boasts that it provides high standard accommodation, facilities and security, but in a shared and open environment.
The development of the brand is timely, London is facing an accommodation emergency in coming years.
The government is actively seeking to resolve the growing housing demand issues, and to remove rogue landlords and management teams.
The capital’s mental health crisis is also increasingly under the spotlight, residents in Gravity Co-living benefit from a unique focus on wellbeing. 40% of 16-25 year-olds feel lonely ‘often’ or ‘very often’ in the capital. The model adopted by Tessaro’s company aims to foster a social environment with events and a constant support network.
“Loneliness is an unspoken epidemic in this city and people suffer in silence. Anyone enjoying residence in one of our properties knows that their wellbeing and overall health is catered to. The brand’s community pillars are personal wellbeing, meaningful engagement, professional growth curated through the unconventional design of our building and management structure.”
“Having the best facilities and finest linen is great, but catering to the whole person is something we’ve thought deeply about. We offer so much more than accommodation, we offer an experience that allows our members to live by what matters.”
The dream scenario appears to be on offer – the benefits and social interaction of student halls but with none of the obvious downsides.
Technology and personalised services are the hallmarks of the Gravity-Coliving accommodation.
“The benefits are too numerous to mention,” says Riccardo Tessaro. “Where do I start?”
“Firstly, we have an ‘integrated living’ app bringing many of the core facilities together.
“Everything from our complimentary linen and cleaning services, through to private messaging between the house guests, organising educational events, fitness classes, monitoring security, the list is endless.”
Gravity Co-living’s expansion details were released in a statement today:
“Gravity Co-living has just closed its seed funding round and is working on a number of projects between London and Paris. This translates into approximately 300 additional beds to replicate the success of their first co-living space in Finsbury Park.
Furthermore, Gravity has recently joined forces with a newly established, Paris-based real estate private equity fund with a pan-European mandate to exclusively develop and acquire co-living assets. The focus is on major cities including London, Paris, Dublin, Amsterdam and Frankfurt. This new synergy will facilitate boosting the co-living startup’s pipeline and profile across Europe, effectively becoming more attractive to institutional investors and landlords.
The coliving startup aims to build a 10,000 bed portfolio targeting major business hubs worldwide by 2026. Gravity Co-living’s CEO, Riccardo Tessaro believes replicating the modus operandi, adopted with the French real estate private equity fund, will help his company achieve its target beds count while building a successful global brand.”
