John Lewis Partnership will build its first Build to Rent homes over Waitrose shops in Bromley and West Ealing in Greater London, along with a vacant John Lewis warehouse in Reading.
The company last year announced its intention to become a large private landlord after unveiling plans to build 10,000 new homes on land it owns across the UK.
The new homes will be built over the next 10 years on land currently used as car parks and above Waitrose supermarkets.
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.”
The retail firm has reportedly already found space for at least 7,000 rental homes, and started the process of submitting planning applications.
The company said: “The homes would be built for different sized households and designed to our high standards. Residents would have options for short and long-term tenure and to have the homes furnished by John Lewis.
“Creating a sense of community through incorporating shared spaces and facilities such as roof gardens and fitness studios and exploring how schemes can play a role in the wider community would be integral to our approach.”
Clever move and will make a fortune in return beside helping with the housing crisis. So much demand that cannot be filled. Time other big companies with sites going to waste, wise up and join the party.
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Wait till the first complaints from tenants about being woken by 5am deliveries to the Waitrose below.
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