John Lewis plans to build 10,000 homes over the next decade as the high-street giant looks to revive its fortunes by becoming a residential landlord.
The employee-owned retailer has identified space for 7,000 rental homes across its property portfolio. The homes, which will range from studio flats to four-bedroom houses, could be built in department store car parks, above Waitrose supermarkets or next to distribution centres. It also plans to develop new sites.
Residents of a John Lewis home will have the option of renting it furnished with the department store’s products, or using their own. Housing developments will come with a concierge service and may feature a Waitrose convenience store near the entrance.
The brand has yet to decide for sure but the intention