John Lewis Partnership’s announces today the first three locations where it proposes to build new Build to Rent homes that would offer the trust, quality and service that people expect from the company. The Partnership seeks to raise standards in rental property – both through their role as a developer and a commitment to manage the buildings themselves.
The three proposed sites for the new Build to Rent schemes include building over two Waitrose shops in Bromley and West Ealing in Greater London, and replacing a vacant John Lewis warehouse in Mill Lane, Reading.
The three locations are the first sites to be announced after 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% of profits to come from outside of retail by 2030.
The new Build to Rent homes would be built for different sized households and designed to the company’s high standards. Residents will be given the option of short or long-term tenure – as well as if they want their home furnished by John Lewis.
Integral to the company’s approach is 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 to give residents the opportunity to shape the plans at an early stage. Over the coming months, local people in Bromley and West Ealing will be invited to several rounds of public consultation to discuss the principle of helping to deliver new homes through the redevelopment of the Waitrose stores, which would also be significantly improved as part of the proposals.
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.”Nina Bhatia, Executive Director for Strategy and Commercial Development, John Lewis Partnership