Never Knowingly Let – John Lewis moves into Build To Rent

Never Knowingly Let – John Lewis moves into Build To Rent


Todays other news
Lloyds has become a big Build To Rent player...
The business will be part of John Shepherd, Lomond's local...
This week's announcement is just the start...
It's a franchise resale by Belvoir...
The franchise giant has reported latest figures to its shareholders...


Tenants who want to pop downstairs to the shop may soon be able to do so – thanks to the John Lewis Partnership.

Advertisement

The company is exploring the possibility of converting some of its retail estate to private rented housing as part a strategy to regrow the business in the wake of the Coronavirus. 

Advertisement

In a letter sent to 80,000 John Lewis and Watrose staff, the chairwoman of the company – Sharon White – says converting some stores or parts of stores to housing is under consideration.

Advertisement

“As we repurpose and potentially reduce our shop estate, we want to put excess space to good social use. We are exploring with third parties the concept of new mixed-use affordable housing” White wrote in her letter.

It’s likely that any housing scheme would be in the Build To Rent category; it is not yet known whether John Lewis would manage the completed units.

Advertisement

The company – which uses the catchphrase ‘Never Knowingly Undersold’ – announced earlier this month that eight stores closed because of the pandemic would not be reopening.

In addition to its retail premises, most of which are freehold, the partnership also owns owns a 2,800-acre farm in Hertfordshire, four hotels and warehouses for logistics facilities.

Advertisement

One of its former stores, in Southsea, is already being converted into leisure use – as a hotel and cinema complex – but none has so far been identified as possible private rental locations.

 

 

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Letting Agent Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
8 Comments
Oldest
Newest Most Voted
Recommended for you
Related Articles
Key with house-shaped head symbolising property access and lettings.
Lloyds has become a big Build To Rent player...
Stack of coins with a rising financial graph on a chalkboard.
But the trend varies significantly in different parts of the...
Businessman analyzing real estate market trends with digital graphs.
HomeLet and Zoopla have crunched the figures...
Map of the United Kingdom highlighting letting agent locations and routes.
Landlords are selling up and rents are rising as a...
This is apparent in the prime lettings segment, it's claimed...
More details will be released by the government later this...
Recommended for you
Latest Features
Lloyds has become a big Build To Rent player...
The business will be part of John Shepherd, Lomond's local...
This week's announcement is just the start...
Sponsored Content

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.