The Collective in Canary Wharf: world's biggest co-living development of 705 luxury rental flats will have a sky bar, wellness zone and cinema

A new skyscraper of studio rental flats is opening in Canary Wharf this summer, bringing with it the highest swimming pool in east London.

Renters at The Collective, dubbed the 'world's biggest co-living development', are considered members and will have access to a spa, gym, and sauna, along with a mindfulness zone and a golf simulator.

The swimming pool is on the 20th floor with an adjoining bar that offers views over the London skyline and a multi-floor music venue and cinema.

The 705-room development features four different types of studio rooms at varying prices, depending on the length of stay.

“Our members want the flexibility and convenience of being able to stay for one night, a week or longer, and we want to be able to provide that,” says The Collective's James Penfold.

The smallest room — a Cosy Studio — is charged at £100 a night, while a three-month stay is priced at £1,863 a month.

All rooms feature a bed area, kitchenette and an en-suite bathroom.

This studio-only development, designed by architects Skidmore, Owings & Merrill, hasn't been built with just millennials in mind, insists Penfold. In the company's Old Oak development in west London, the youngest person living in the building is 18 years old, but the oldest is 65. “Thirty per cent of people are aged 50 and over,” he says.

The company wants members to make use the communal spaces and has an in-house team working on a daily programme of events, from yoga to nutrition classes and mental-health workshops. There are also separate, quieter spaces.

One of the most important features of the project is that the local community has access to it. “We have spent the last year working with local charities and schools to come up with a range of social impact programmes, like inviting kids from schools to use the pool, and having coffee mornings for single parents.

“The entire building is your home. Your room is a place to rest your head but the building is accessible to everyone and you’re signing up to be part of a community, which is what we specialise in,” Penfold said.