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Thursday, 07 July 2022
THE John Lewis Partnership has announced it will be building rental homes on the site of its vacant warehouse on Mill Lane in Reading.
The company says its move into the residential property market is intended to address the national housing shortage and support local communities.
It plans to deliver 10,000 homes over the next 10 years, with 40 per cent of its profits coming from outside the retail sector by 2030.
There will be a period of public consultation about the scheme in Reading later this year. Additional homes will be created on the sites of Waitrose stores in West Ealing and Bromley.
Tenants will be able to choose between short or long-term lettings, and they will have the option to have their home furnished by John Lewis.
The properties will have shared spaces and facilities for residents, such as fitness centres and community gardens.
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.”
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