John Lewis Partnership has received planning permission for its £70m build-to-rent development in Reading.
The Waitrose owner has been given the green light to build 170 apartments located on the site of a former distribution warehouse in the town’s centre.
The £70m project includes new housing – of which 16% will be affordable – nearly 5,000 sq ft of indoor amenity space for fitness, homeworking and socialising, and landscaped communal gardens. The new development will be made up of 79 one-bed, 81 two-bed and 10 three-bed properties in an eight-storey building.
The retailer estimates the project will generate £18m in additional household spending and council tax over the next decade and will also create more than 120 jobs during construction, including apprenticeships.
The Reading project is one of three rental home schemes pursued by the partnership. The retail giant received approval for its Bromley development last July and the West Ealing scheme in May.
John Lewis Partnership director of build to rent Katherine Russell said: “We’re delighted with the unanimous decision. This planning consent marks an important moment in our 70-year commitment to Reading and has been achieved through close collaboration with the Local Authority. We’re pleased to have the opportunity to invest further in the community by helping to deliver much-needed new homes.
“Our ambition is to take the reputation we have built for service and trust into housing, ensuring residents feel the same quality and care that has defined our brand for generations.”
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