John Lewis will use space above Waitrose stores and carparks to develop 10,000 homes over the next decade.
The employee-owned retailer has already identified space for 7,000 homes across its existing property portfolio, but also has plans to use land next to distribution centres and to develop new sites, as first reported by the Times.
Developments will come with a concierge service and may feature a Waitrose convenience store near the entrance.
In a statement JLP adding that homes will range from studio flats to houses. Residents will have the option of renting the homes furnished with John Lewis products, or using their own.
Nina Bhatia, executive director of strategy and commercial development at John Lewis Partnership, said:
“As a business driven by social purpose, we have big ambitions for moving into property rental to address the national housing shortage and support local communities.
“It will also provide a stable, long term income for the Partnership, new employment opportunities for our Partners and plays to our strength as a trusted brand known for strong service.”
The retailer is preparing to lodge a handful of planning applications early next year, with the first planned for the south-east of England.
But this is not the chain’s first foray into the housing market. John Lewis also owns most of Leckford, a village in Hampshire, where every home with a green door is a partnership property.
