John Lewis to build rental homes at 20 of its UK sites

John Lewis is to become a major landlord, aiming to build rental homes at 20 of its sites around the UK as part of a strategy to rebuild profits to £400m within five years.

a living room filled with furniture and a fireplace: Photograph: British Retail Photography/Alamy

© Provided by The Guardian
Photograph: British Retail Photography/Alamy

The retailer, which also owns Waitrose, said the new homes could be built above or beside stores or on other land it owns, and would be furnished with products from John Lewis department stores. Residents would also be able to order food deliveries from Waitrose supermarkets. It is aiming to make planning applications for two sites in Greater London in the new year.

“We’re a landlord already at three of our properties, so this is an obvious extension for us. And we’re now talking to developers and investors who can help us achieve our ambitions,” the company said.

It is launching a new strategy under the chairman,

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John Lewis to build rental homes and launch savings accounts

File photo dated 16/01/12 showing the John Lewis store in London. The John Lewis Partnership (JLP) is to reveal the full impact of the mass closure of its department stores as partners will also eagerly await updates regarding its ongoing strategic review.
John Lewis plans to move ‘beyond retail.’ Photo: PA

John Lewis has set out a five-year plan to move “beyond retail,” including building homes for rent and offering new savings and insurance products.

The leading department store announced it would invest £400m ($518m) in new areas, and aim to make 40% of its profits from them by 2030. It is aiming for profits to reach £200m a year within the next two years, according to the plan published by John Lewis on Friday.

The new areas Britain’s biggest employee-owned business will expand in include:

  • Ramping up Waitrose’s delivery capacity from 55,000 orders a week before the pandemic to 250,000, with more partnerships like its current trial with Deliveroo, Another 25 Waitrose stores will now join the trial with the delivery company.

  • Working with developers to build new homes on up to 20 sites already owned by the partnership to provide

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John Lewis To Build And Rent Homes, And Retail To Be 70% Online By 2025

The John Lewis Partnership has today announced its plans to reach more customers in a variety of different initiatives. The ‘Partnership Plan’ demonstrates a commitment to change in plans to boost profit to £400m by 2025.

The U.K’s largest employee-owned business – the John Lewis Partnership highlights the trust and love customers feel towards the Waitrose and John Lewis brands. It is indeed that trust that has helped to build the John Lewis credit card and financial services – a business the Partnership wants to quadruple over the next 5 years. This will be

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