The employee-owned partnership, which runs John Lewis department stores and supermarket chain Waitrose, said last July it would build 10,000 rental homes over the next decade, half of them developed through its existing real estate portfolio.
She said on Thursday that the first three proposed sites include construction above Waitrose Bromley and West Ealing London stores, as well as the replacement of a vacant John Lewis warehouse in Reading, west of the capital.
The houses would be built for households of different sizes. Residents will have the option of opting for short or long term occupancy and having the homes furnished by John Lewis. Public consultations will be organized over the next few months.
“Helping create homes has always been at the heart of what we do and now we have a unique opportunity to use our expertise and skills in new ways to provide much needed new homes,” said Nina Bhatia, Executive Director of Strategy and Business Development at John Lewis.
Britain has a chronic shortage of affordable housing. Prices have skyrocketed over the past decade, pushing properties out of reach for first-time buyers.
The John Lewis Partnership has been hit hard by the COVID-19 pandemic. She recorded losses, which prompted her to close stores and cut jobs.
Board chair Sharon White has detailed a five-year turnaround plan in 2020, including diversification into property development, leasing and resale products, expanding its financial services business and looking for more partnerships.