John Lewis unveils its first Build to Rent locations



The John Lewis Partnership, which owns of Waitrose and the high street department store chain, has announced the first three locations where it plans to develop and manage a series of new Build to Rent homes.

Sites include building over Waitrose shops in Bromley and West Ealing in Greater London, along with replacing a vacant John Lewis warehouse in Reading.

The company has set a rather ambitious target of building 10,000 new homes on land it owns across the UK.

The new homes will be developed over the next 10 years on land currently used as car parks and above Waitrose supermarkets.

Those who rent a property from John Lewis will be given the option to have it furnished with company products or to do it themselves.

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.”

 

Comments 1

  1. Welcome to the Corporate future of renting in the UK. The Government is busy making room for Corporate Landlord, destroying the current PRS by over regulating it and making investment unattractive. Starting from scratch it is easy to build low cost, low maintenance, EPC compliant homes without gas boilers. Easy for big business who really run things to tie things up legally with their Government pals, such that tenants would have no right to buy.
    From the sounds of it I don’t think these people will be building nice three bed semis with a bit of garden. They will be looking at massive apartment developments that enjoy economies of scale so they can be rented out at lower rents compared to the existing PRS and still make huge profits. Can we look forward to people being housed by employers again? Easier to control workers if they rely on you for housing like in the days of the old mill owners, make a fuss, lose your job, lose your home, so best put up and shut up.
    Unless we undergo some economic miracle the size of the UK cake will not grow much in years to come and there will be millions more of us wanting a slice of it. Except for a privileged few owning a home (or a car) will be a dream and for most renting will be the norm. Maybe the tin foil hat brigade are correct when they say that “in the future you will own nothing and be happy”!

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