Savills, acting on behalf of the John Lewis Partnership (JLP), has submitted a planning application for 215 rental homes at a former distribution warehouse in Reading.
The submission follows a recent resolution to grant planning permission, also secured by Savills, at JLP’s Waitrose site in Bromley, South London.
Both projects support JLP’s ambition to create a rental housing brand that will manage homes designed specifically for rent in a bid to ease housing pressures and generate long-term, stable income to support investment back into its Waitrose and John Lewis brands.
The Reading scheme, which is set to be the first from JLP outside of London, will see the investment of £80million to create 215 high-quality and energy-efficient homes, as well as 6,000 sq. ft of internal amenity, including space for community use, two new external garden areas and improved public realm.
Located next to the A329 and opposite the Oracle shopping centre in central Reading, the site benefits from close proximity to Reading Train Station, providing access to central London in less than an hour.
The Build to Rent development will include a mix of one, two and three-bedroom homes, 10 per cent of which will be affordable, and offer shared areas for fitness, home-working and socialising. The homes will be highly sustainable, using high performance materials with renewable energy resources.
Katherine Russell, Director of Build-To-Rent for the John Lewis Partnership, said: “We have worked closely with Reading Council’s planning officers, local residents and organisations to propose a scheme that will benefit residents and the wider community by transforming a disused industrial site into a thriving rental community.
“By revitalising brownfield land we have a fantastic opportunity to provide a significant number of homes which can help alleviate some of the growing pressure on Reading’s housing market. These will be homes not only developed by us, but managed by us, meaning we can offer quality service and a guarantee that homes will not be sold off, as so often happens in the rental market.”
Jon Sebbage from Savills Central Planning, commented: “We are very pleased to have supported JLP in reaching this key milestone following several years’ work with the project team. The proposed scheme will deliver significant public benefits in Reading, including the provision of much-needed housing and residents facilities, flexible commercial and community space, high-quality landscaped areas and a wider social value programme.’