abrdn appoints John Lewis Partnership to manage Clarendon Quarter BTR

abrdn appoints John Lewis Partnership's (JLP) to manage Clarendon Quarter and two additional Build to Rent schemes.

JLP will take over abrdn's Clarendon Quarter scheme in Leeds next month | BTR News
JLP will take over abrdn's Clarendon Quarter scheme in Leeds next month.

JLP is set to take over the management of hundreds of rental apartments in three existing apartment buildings on behalf of funds managed by global investment company abrdn. From 1 November 2023, JLP will assume operation of the 325-home Clarendon Quarter Build to Rent scheme in Leeds, with the other two locations being confirmed in the coming months. A small team will oversee the on-site management of the building, with abrdn remaining responsible for the asset management.

Clarendon Quarter was converted into a Build to Rent development in 2017 and was acquired by abrdn in 2020. The fully let scheme provides furnished one- to three-bedroom homes, including apartments for key workers at a discounted rental price. Amenities include a gym, resident lounges, landscaped gardens and a concierge service.  

“We’re committed to bringing the values and trust that Waitrose and John Lewis customers know and love to the rental housing sector. Our presence in Leeds presents a valuable opportunity to engage with residents and provide them with the exceptional service we will deliver as part of our wider strategy to build much-needed quality rental homes.”

Sophie Hine, Head of Build to Rent Operations and Customer Experience, John Lewis Partnership

In the future, the management proposition will be used in homes JLP will build and manage on its own sites, subject to planning permission. However, the apartment blocks the company takes on management for abrdn will not be the final JLP rental proposition. 

This update builds on the £500m joint venture with abrdn that was announced last year, which will be used to deliver over 1,000 new homes across three initial sites. 

“Having worked closely with JLP for almost a year now, it’s great to be delivering on the next phase of the plan as part of our joint venture together. JLP’s move into the Build to Rent market has been carefully planned to ensure that the procedures, processes and systems are all in place to deliver their residential property management business. We are excited that our tenants will get to experience the quality of service that JLP does so well.”

Robert McDonnell, Fund Manager, abrdn