The John Lewis Partnerships has announced the first three locations where it proposes to build new rental homes. These potential sites include building over Waitrose shops in Bromley and West Ealing in Greater London, as well as replacing a vacant John Lewis warehouse in Mill Lane, Reading.
Local people in Bromley and West Ealing will be invited to several rounds of public consultation over the coming months to discuss the plans. Subject to the feedback received, the brand’s intention would be to submit planning applications for Bromley and West Ealing next year. A period of public consultation for Mill Lane, Reading, will take place later this year.
The homes would form part of the UK’s growing ‘build-to-rent’ property market, with the Partnership committing to develop and manage the buildings themselves in the hope of raising standards in rental property. The Waitrose stores being redeveloped are also set to be improved as part of the proposals.
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(Image: Finn Byrne)
The three locations are the first sites to be announced after the Partnership confirmed its target to deliver 10,000 homes in the next 10 years, with 5,000 of these coming from schemes on their own property portfolio. Moving into the rental homes market is part of the brand’s long-term plan for 40per cent of its profits to come from outside of retail by 2030.
The homes would be built for different sized households, with residents given options for short and long-term tenure and to have the homes furnished by John Lewis. Shared spaces and facilities such as roof gardens and fitness studios will feature with the aim of creating a sense of community.
Nina Bhatia, Executive Director for Strategy and Commercial Development at the John Lewis Partnership, said: “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.”
Want to get in touch? Email tara.cobham@reachplc.com
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