John Lewis announces locations of new rental homes

John Lewis has revealed where it plans to build new homes for its move into the residential property market.

The department store chain said it wanted to address the national housing shortage and support local communities.

The rental homes will be built above Waitrose shops in Bromley and West Ealing in Greater London and on the site of a vacant John Lewis warehouse in Reading.

The company plans to deliver 10,000 homes over the next decade.

It said people in Bromley and West Ealing would be consulted over the coming months to discuss the principle of helping to deliver homes through the redevelopment of the Waitrose stores.

A period of public consultation for Mill Lane, Reading, will take place later this year.

Tenants will have the choice of short or long-term rentals and whether to have the homes furnished by John Lewis.

The properties will incorporate shared spaces and facilities such as roof gardens and fitness studios.

John Lewis spokeswoman 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."

John Lewis said the move into the rental homes market is part of its long-term plan, with 40% of profits to come from outside of retail by 2030.

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