John Lewis Partnership (JLP) has secured planning approval for new rental housing regeneration development in Reading, UK.
This follows a recent planning approval to transform JLP’s Waitrose site in Bromley, South London, into more than 300 homes for rent.
The Reading development, JLP's first outside of London, involves investing £80 mln (€95.9 mln) to transform a former distribution warehouse into 215 high-quality, energy-efficient homes, along with 557 m2 of communal spaces and public areas.
The development will offer a mix of one, two, and three-bedroom homes, of which 10% will be affordable units. Amenities will include fitness facilities, co-working spaces, and social areas.
The homes will be built with sustainable materials and incorporate renewable energy sources, making them highly energy efficient.
Katherine Russell, director of Build-To-Rent for the John Lewis Partnership, said: "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.’
Jon Sebbage from Savills Central Planning, added: ‘The proposed scheme will deliver significant public benefits in Reading, including the provision of much-needed housing and residents facilities, flexible commercial and community space, high-quality landscaped areas and a wider social value programme.'
Construction is anticipated to begin in 2026, with residents potentially moving in by 2028. The majority of the funding for the project will be provided by John Lewis's financial partner, Abrdn.
The site is conveniently located near the A329 and across from the Oracle shopping centre in central Reading. Its proximity to Reading Train Station offers easy access to central London within an hour.
The projects in Reading and Bromley align with JLP's goal of establishing a rental housing brand that specializes in managing rental properties. This initiative aims to alleviate housing shortages and generate consistent income to support JLP's retail brands Waitrose and John Lewis.
Savills supported JLP's application for the residential-led scheme.
