John Lewis unveils plans for 215 BTR homes

John Lewis unveils plans for 215 BTR homes

0:01 AM, 6th September 2024, About 4 weeks ago 4

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The John Lewis Partnership (JLP) has unveiled ambitious plans to regenerate a disused industrial site in Reading, creating 215 rental homes.

The move follows the recent approval for its Waitrose store upgrade in Bromley to include 353 build-to-rent homes.

The latest proposals, submitted to Reading Borough Council, involve investing more than £80 million to transform its former distribution warehouse into a thriving residential community.

Located near the A329 and opposite the Oracle shopping centre, the site offers connectivity to Reading train station and central London.

The development will feature a mix of one-, two- and three-bedroom homes, designed to cater to various household sizes.

‘A thriving rental community’

JLP’s director of build-to-rent, Katherine Russell, said: “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.

“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.”

She added: “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.”

Committed to sustainability

JLP sys it is committed to sustainability with the homes incorporating high-performance materials and renewable energy sources.

The development will also prioritise green spaces, including children’s play areas and community gardens.

The project will create 6,000 square feet of internal amenity space, including areas for community use and social activities.

JLP also wants to prioritise residents who are already living and working in the area and it recognises the growing demand for quality rental homes in the area.

If approved, construction is expected to start in early 2026, with the first residents moving into the new homes in 2028.


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JaSam

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10:15 AM, 6th September 2024, About 4 weeks ago

This is what the government wants the future of the PRS to be. Small landlords will eventually be pushed out. I have no problem with this as I’ll just adapt my business and invest in some other industry.

Reluctant Landlord

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10:53 AM, 6th September 2024, About 4 weeks ago

No mention of planning only being given if X% are made 'affordable rent'????

Dino Saw

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12:59 PM, 6th September 2024, About 4 weeks ago

Mark my word - slums of the future. Already seeing it with converted buildings and office blocks.

Reluctant Landlord

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16:38 PM, 6th September 2024, About 4 weeks ago

Reply to the comment left by JaSam at 06/09/2024 - 10:15
Glass coffins high in the air do not suit tenant need only investor need. They will always be rented because there is little other option.

The only drop will be in rental price if the market is flooded (see Dubai after the build rush).

There will always be a need for houses with private outside spaces in areas people want to live in with good schools and services nearby for long term living.

Wait until these new investors see the actual reality of being a LL.....

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