John Lewis names first three locations for house-building scheme

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John Lewis has confirmed the first three locations for its build-to-rent scheme as it aims to build 10,000 homes by 2030.

The retailer has earmarked Bromley and West Ealing in Greater London and will redevelop a former distribution warehouse in Reading in Berkshire.

John Lewis said it would begin consultations in Bromley and West Ealing in the coming months on its plans with an eye to submitting formal planning applications for both schemes next year.

It will also begin consultation on its redevelopment plans for its former Mill Lane, Reading, warehouse this year.

The sites are the first to be chosen by the retailer for its broader strategy of moving into the build-to-rent market. It has set itself the target of building 10,000 new homes by 2030 to diversify its revenue streams in the future.

The retailer said “residents would have options for short- and long-term tenure and to have the homes furnished by John Lewis”.

It added that “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”.

John Lewis executive director for strategy and commercial development Nina Bhatia 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.”