We believe there is an opportunity to do more with some of the buildings and land we own.
By investing to transform some of these sites, we can provide professionally managed rental housing as well as create new and improved public spaces.
The benefit for our Partners, as our employees are known, is being able to do more to help strengthen those areas we serve, while generating stable income from renting homes to support ongoing investment back into John Lewis and Waitrose.
We believe it is socially responsible to make the best use of sites like this that are close to transport links and large employers given the increased demand for housing and rental homes across the UK.
We would develop and manage the homes ourselves, which means it’s in our interest to deliver high-quality buildings that are thoughtfully designed and managed, with the same commitment to high standards as we apply in our nearby John Lewis and Waitrose shops.
Residents would rent directly from a trusted brand, providing them with greater certainty of tenure.
We are proposing to invest for the long term, solidifying our future commitment to Reading and allowing us to provide both great experiences in retail and home rental for local people.
These would be build to rent homes – apartments purpose-designed for renting, which include shared areas to grow communities and are professionally managed with round-the-clock security. Benefits of build to rent include:
- Helping to alleviate some of the growing pressures on the UK’s rental market where many buy-to- let landlords are selling up and many people cannot afford to buy
- Residents can agree rental durations up front with longer term tenancies for greater security
- Rents that include access to amenities such as a gym, high-speed WIFI, residents lounge, co-working space and landscaped gardens with no hidden fees
- True mixed tenure where all residents, including those in affordable homes, have access to the same amenities and services
