The 25-bedroom project, named Lake District Coliving, is the brainchild of Michelle Rothwell, developer and founder of property investment and development company Watch This Space.
The initiative aims to provide affordable accommodation for tourism and hospitality workers, a sector hit hard by staffing shortages.
According to the company, Brexit and a shortage of affordable accommodation were identified as factors contributing to the staffing crisis.
To address this, extra buses have been laid on to transport workers from outside the region into the Lake District.
She said: “I spent a lot of my childhood in The Lakes and I saw a lot of people move away because there was nowhere to live.
“The combination of Brexit and the explosion of holiday homes has reduced the amount of high quality, affordable accommodation in the Lake District even further.
“We want to provide accommodation in The Lakes that is beautiful and affordable to enable them to have a good quality life.”
The former Biscuit Factory building in Oldfield Court, Windermere, has been transformed into a 14,200 sq ft development of 25 bedrooms, each with its own private bathroom.
Residents will have access to two fully equipped kitchens, communal lounges, a laundry, gaming area, cleaning services, and high-speed internet.
The cost for a double room is £215 a week, including bills, and has already attracted interest from several of the area’s hotels.
Ms Rothwell, who has overseen a range of commercial, retail, and residential developments across Manchester and the Lake District totalling more than £30 million, said: “Lake District Coliving is about so much more than the property.
“We’re going to put on events; open water swims; mountain walks etc in order to create a community.
“We’re super excited about it.
“24 of the 25 rooms are doubles so it’s super affordable for couples.”
The three-storey building, which started life in the 19th century as a biscuit and cake works, was purchased by Ms Rothwell in 2023.
Each room is named after a biscuit, in homage to the building’s history.
The development also includes 12 self-contained offices on the ground floor, more than half of which have already been pre-let.
Ms Rothwell said: “We’re really excited to be bringing a brand new concept to The Lakes and up the standard of accommodation on offer.
“We’re not signing people into long contracts.
“If they only want to stay for a couple of months they can.
“It’s about being flexible.
“We think when people move in, they won’t want to move out.”
The standard rate at Lake District Coliving is £215 per room, per week, or £245 per week for a bi-weekly cleaning service and fresh bedding.
The development is part of a wider effort to tackle the staffing crisis in the Lake District, providing much-needed affordable accommodation for workers in the tourism and hospitality sectors.
