UK: Retailer John Lewis Partnership has revealed the first three sites where it will build the first of a planned 10,000 BTR units.
The Partnership says it is seeking to raise standards in rental property – both through its role as a developer and a commitment to manage the buildings themselves.
The three proposed sites include building units above two Waitrose outlets in Bromley and West Ealing in Greater London, and replacing a vacant John Lewis warehouse in Mill Lane, Reading.
John Lewis confirmed its target to deliver 10,000 homes in the next ten years – 5,000 of these will come from schemes on the Partnership’s own property portfolio. Moving into the rental homes market is part of the company’s long-term plan for 40 per cent of profits to come from outside of retail by 2030.
It aims to create a sense of community by incorporating shared spaces and facilities, such as fitness studios and roof gardens, and exploring how schemes can play a role in the wider community.
Detailed designs are expected to be released later this year ahead of several rounds of public consultation.
Subject to the feedback received during consultations, John Lewis intends to submit planning applications for Bromley and West Ealing next year. A period of public consultation for Mill Lane in Reading will also take place later this year.
“Everything people love about our brand – quality, trust and service – we want to bring to the experience of renting a home with us. Our role as developer and operator, as well as an already established local business and employer, signals our ambition to bring long-term value to each of these communities. Helping to create homes has always been at the heart of what we do and we now have a unique opportunity to use our expertise and skills in new ways to deliver much-needed new housing,” said Nina Bhatia, executive director for strategy and commercial development, John Lewis Partnership.
