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Retail giant John Lewis eyes 20 sites as it plots expansion into social housing
High street retail giant John Lewis has taken further steps to break into the social housing sector, identifying 20 sites on which it plans to provide new housing.
A stock market update published this morning announced John Lewis’ ambition to diversify by expanding into new areas, including social housing and the build-to-rent market. It confirmed that it was preparing to submit planning applications for two sites in 2021.
The mutual, which also owns supermarket chain Waitrose, announced in July that it will convert unused shop space into affordable homes as well.
In the update today, John Lewis said: “We’ve identified 20 sites we own that could be used to benefit local communities by providing quality and sustainable housing, while providing a stable income for the partnership.
“We’ll make planning applications for two of these in the new year in greater London. Entering the ‘build to rent’ market also allows us to furnish properties using John Lewis Home products and deliver Waitrose food.”
A spokesperson for the retailer, which operates 42 shops in the UK, confirmed to Inside Housing that the 20 sites would include both social and private housing.
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The high street mainstay noted that it is already a landlord at three of its properties and that it is now talking to developers and investors about the plans.
John Lewis said: “We’re a partnership for positive change, improving lives and building a more sustainable future. We’ll grow in areas where these are important to our customers, like rental, recycling, savings, insurance, and private rented and social housing.”
John Lewis has sought to bolster its shift to social housing by recruiting senior social housing figures in the past year. It appointed Dame Clare Tickell, former chief executive of Hanover Housing Association, as an independent director in October 2019.
Nina Bhatia, executive director of strategy & commercial development at the John Lewis Partnership, said: “This is a bold plan to grow our business and get us much closer to our customers. Waitrose and John Lewis are two of the country’s most trusted brands and we’ll offer the best products and customer service on the high street and online.”
“We’re creating new inspirational services for customers where strong ethical values and peace of mind matter, like reusing and recycling products, personal savings, and rented housing. Our plans will firmly establish Waitrose and John Lewis as the go-to brands for customers that care about quality, value, and sustainability.”
