Existing evidence suggests that co-location may be emerging as a preferred model of multi-agency working between the police and a range of partner agencies, yet there is limited evidence available regarding the benefits and challenges of this specific type of initiative. This article draws on an evaluation case study of co-location between the police and a local authority established to improve responses to victims of anti-social behaviour. Co-located officers reported a range of benefits arising from the new arrangements, and there was evidence of deep learning within and across teams. However, by including the experiences of those working outside the co-location more significant challenges became apparent, relating to ongoing relationships between officers and the wider force that we are unaware of from previous research. It is suggested that senior management should pay attention to managing changing relationships that occur in co-location to preserve existing social capital whilst exploiting opportunities arising from newly formed connections.