The John Lewis Partnership plans a significant development in Reading, transforming a former warehouse site into rental housing.
- The project involves an investment of over £80 million to develop 215 homes and 6,000 sq ft of amenity space.
- The proposed site is opposite the Oracle shopping centre, with a mix of one, two, and three-bedroom rental properties.
- This initiative is part of a £500 million joint venture to build about 1,000 homes in London and Reading.
- Construction of the Reading project is expected to begin in 2026, pending approval, with occupancy in 2028.
The John Lewis Partnership has formally submitted a planning application to Reading Borough Council for the redevelopment of a former distribution warehouse. The proposal is set to transform the area opposite the Oracle shopping centre into rental housing, marking a significant investment of over £80 million. The plan includes the development of 215 residential units along with 6,000 sq ft of internal amenity space, designed for community use, as well as two external garden areas and an enhanced public realm.
The proposed accommodation will offer a range of one, two, and three-bedroom properties, catering to diverse housing needs within the community. This undertaking forms a crucial part of John Lewis’s broader strategy to move beyond traditional retail operations.
Previously, John Lewis received approval for a rental housing project in Bromley, London, which entails the construction of 353 rental units and the modernisation of an existing store. Additionally, the company has recently applied for a similar development in West Ealing, located conveniently near the Crossrail station. Both these applications were filed in June 2023.
The housing initiatives stem from plans unveiled in December 2022 as part of a joint venture with investment firm Abrdn. This partnership aims to deliver approximately 1,000 new homes across London and Reading, as part of a £500 million multi-year strategic plan to diversify John Lewis’s business model.
Sharon White, the outgoing chairperson, initially announced these strategic changes in 2020, emphasising the importance of diversifying from retail. Katherine Russell, the director of build-to-rent at John Lewis, stated, “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.”
A decision on the Reading scheme’s planning application is anticipated early next year. If approved, construction is projected to start in early 2026, with the first residents expected to move in by 2028, thereby becoming the inaugural occupants of this new community housing development.
The John Lewis Partnership’s plan for a large-scale housing development in Reading marks a strategic shift towards broader community engagement and diversification.
