UK supermarket chain to build 10,000 rental homes by 2030
Waitrose, the UK supermarket chain, has submitted its first build-to-rent residential planning applications, as it aims to build 10,000 residential units above and around its stores by 2030.
The John Lewis Partnership, which owns the grocery brand, has filed planning applications for two build-to-rent projects in London. Last December, the company — which also operates a number of department stores in the United Kingdom — revealed that it had agreed to a £500 million (€580 million) multi-decade joint venture with abrdn to deliver 1,000 new homes in the UK capital. It now hopes that it can roll out similar developments across the United Kingdom, should the applications be successful. The diversification of the company’s business model comes after it was forced to close a number of department stores in 2021. It says its new residential business will be focused on raising standards in rental homes and helping address the United Kingdom’s housing crisis.