Jul 4, 2021
John Lewis plans to build 10,000 rental homes
John Lewis has announced plans to move into the residential property market by building 10,000 homes for rental over the next few years. "As a business driven by social purpose, we have big ambitions for moving into property rental," said Nina Bhatia, executive director of strategy and commercial development for the John Lewis Partnership. The Sunday Times, which first reported the story, said some homes could be built in department store car parks, above Waitrose supermarkets or next to distribution centres. The first John Lewis homes are planned for south-east England, but the partnership said it believed there were opportunities across the country. The announcement comes as John Lewis's traditional department store retail business has come under increasing pressure from the decline of UK High Streets and the rise of an increasingly competitive online market.
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