Key Points
- Property developer HUB has received planning approval from Hackney Council to redevelop Finsgate House in east London.
- The mixed-use scheme will replace three existing office buildings near Old Street Station with two new towers ranging from five to 35 storeys, delivering 490 co-living homes.
- Designed by architects AHMM, the development incorporates over 43,000 sq ft of grade-A workspace, with approximately 10 per cent designated as affordable space for small and medium-sized enterprises.
- Additional features include shared resident amenities, a community hub, and public realm upgrades such as wider pavements, improved street lighting, and new trees.
- HUB managing director Damien Sharkey described the approval as a major advancement for the company’s ultra-urban co-living strategy in a high-demand area of central London.
Hackney (East London Times) November 12, 2026 – Developer HUB has secured planning permission from Hackney Council to redevelop Finsgate House in east London into a 490-home, mixed-use co-living scheme near Old Street Station.
What Does the Redevelopment of Finsgate House Entail?
The approved proposals will see three existing office buildings demolished and replaced by two new buildings ranging in height from five to 35 storeys. Alongside the 490 co-living residential units, the development is set to provide more than 43,000 sq ft of grade-A commercial workspace.
Architectural firm AHMM designed the project, which allocates roughly 10 per cent of the commercial floorplate as affordable workspace aimed specifically at small and medium-sized businesses. Plans also include shared amenity areas for residents, a dedicated community hub, and surrounding public realm enhancements featuring wider pavements, upgraded lighting, and new trees and planting.
What Did HUB Say About the Planning Approval?
Following the council’s decision, HUB managing director Damien Sharkey stated:
“This decision is a major step forward for our ultra-urban co-living strategy, and reinforces our conviction that this type of housing can be transformational for central London.
“Finsgate House presents a significant opportunity to transform an underperforming and prominent site into something of value to new and existing communities. It will deliver 490 co-living homes and tangible public benefits, in an area of the capital where the housing offer is limited and demand is extremely high.
“Throughout the design process we have worked closely with local stakeholders to ensure the scheme responds to the priorities of the neighbourhood, so we are proud to have our plans approved by Hackney Council. We look forward to working with our partners to bring this exciting new chapter for Finsgate House forward.”
What Is the Background of HUB’s Co-Living Strategy in London?
The Hackney approval follows steady expansion by HUB within London’s purpose-built co-living sector. Prior to the Finsgate House decision, investment firm Blue Coast Capital appointed HUB in September to deliver two separate London co-living developments located in the boroughs of Southwark and Tower Hamlets. Together, those two projects account for an additional 485 co-living homes, demonstrating an ongoing institutional focus on high-density residential models across inner London boroughs.
How Could This Development Affect Local Residents and Businesses?
For prospective renters and young professionals working near the Old Street tech and commercial district, the addition of 490 co-living units increases local housing supply in a neighbourhood characterised by high rental demand and limited residential stock. Local small and medium-sized enterprises may benefit from the ring-fenced affordable workspace, which offers an entry point into grade-A offices near major transport links. Meanwhile, existing Hackney residents and daily commuters are expected to experience changes to the immediate streetscape through the planned community hub, improved pedestrian walkways, and increased greenery, alongside heightened building density resulting from the 35-storey tower.
