The John Lewis Partnership has submitted planning proposals to convert a former John Lewis warehouse into 215 rental homes.
JLP plans to invest £80m to regenerate the industrial site, which is located opposite the Oracle shopping centre in Reading. Alongside the 215 homes, JLP plans to create 6,000 sq ft of amenity space, external gardens and areas for community use. It includes a mixture of one, two and three-bedroom properties, with around 10% being classed as affordable.
The submission to Reading Borough Council is the final of three proposed build-to-let redevelopments as part of JLP’s £500m joint venture with Abrdn, alongside current proposals in Bromley and West Ealing.
JLP expects to receive a decision from a planning committee “early next year”. If successful, construction is set to begin in early 2026 with the first residents moving in by 2028.
If that timeline is met, it would make the residents the first to move into a JLP home development.
“We have worked closely with Reading Council’s planning officers, local residents and organisations to propose a scheme that will benefit residents and the wider community by transforming a disused industrial site into a thriving rental community,” said Katherine Russell, director of build-to-rent for the John Lewis Partnership.
“By revitalising brownfield land we have a fantastic opportunity to provide a significant number of homes which can help alleviate some of the growing pressure on Reading’s housing market.
“These will be homes not only developed by us, but managed by us, meaning we can offer quality service and a guarantee that homes will not be sold off, as so often happens in the rental market.”
It would mark significant milestone for the retailer’s property ambitions, which have been beset with delays amid concerns about the number of affordable houses, as well as the impact on local communities from some local residents.
In July, JLP was granted planning approval to redevelop an existing Waitrose store in Bromley. However, it is still yet to receive a decision on similar proposals to build 428 homes from Ealing Council. In June, the retailer lodged an appeal in hope of pushing through the plans.
Despite rolling back on outgoing chairman Sharon White’s original aim for 40% of the partnership’s income to eventually come from areas outside core retail, JLP has remained committed to its build-to-let plans.
In October 2023, Martin Gafsen was appointed as JLPs new property director, to oversee the plans.
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