The John Lewis Partnership has secured planning consent to deliver 170 rental homes on a former industrial site at Mill Lane in Reading.
Around one in six of the new, energy-efficient homes at the £70m scheme will be affordable and local residents will be given first refusal on the mix of one-, two- and three-bedroom apartments.
The scheme, which will regenerate an underused brownfield site, will provide nearly 5,000 sq ft of indoor amenity space for fitness, homeworking and socialising in addition to landscaped communal gardens.
Katherine Russell, director of build-to-rent at the John Lewis Partnership, said: “We’re delighted with the unanimous decision. This planning consent marks an important moment in our 70-year commitment to Reading and has been achieved through close collaboration with the local authority. We’re pleased to have the opportunity to invest further in the community by helping to deliver much-needed new homes.
“Our ambition is to take the reputation we have built for service and trust into housing, ensuring residents feel the same quality and care that has defined our brand for generations.”
Anne Breen, global head of real estate at JLP’s joint venture partner Aberdeen, added: “John Lewis brings something quite different to build-to-rent – centrally located, money-can’t-buy sites and a brand people know and trust, and a stand-out commitment to service that is already evident across the homes they manage.
“Reading is another important step in growing a platform that fosters genuine social value by building communities that foster connection, pride, and wellbeing. Build-to-rent, done well, could go a long way to transform the UK’s private rental stock, much of which is aging, to become places people truly want to live and call home.”
