John Lewis reveals first rental home locations in diversification drive

The John Lewis Partnership has today announced the first three locations where it proposes to build new rental homes, in a move that is part of its long-term plan for 40% of profits to come from outside of retail by 2030.

The three proposed sites include building over Waitrose shops in Bromley and West Ealing in Greater London, as well as transforming a vacant John Lewis warehouse in Mill Lane, Reading.

The Reading site will be made open to public consultation later this year, while planning applications for Bromley and West Ealing will be submitted in 2023.

The John Lewis Partnership is targeting delivering 10,000 new homes in the next 10 years, half of which will come from schemes in its own property portfolio.

The homes will be built for different sized households and residents will have options for short and long-term tenure and to have the homes furnished by John Lewis.

The aim is also to “create a sense of community” through incorporating shared spaces and facilities, such as roof gardens and fitness studios.

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.”