John Lewis reaffirms commitment to building new houses

The John Lewis Partnership has vowed to keep building homes, irrespective of Chair Dame Sharon White upcoming departure. 

The partnership's Executive Director for Strategy & Commercial Development, Nina Bhatia said its commitment to housing is "unwavering", no matter who is at the helm of the partnership.

"Creating new, long-term businesses is in our DNA and was always intended by our founder," she added.

"We alone are not going to solve the housing crisis - only collaboration between the public and private sectors can hope to address that. But what we can do is play our part in making a positive impact by creating high-quality rental housing, which is regrettably absent from much of the market."

Last year, the partnership shared its plans to build 1,000 new rental properties on its land as part of its ambition to diversify the business and create quality residential housing in its communities.

The first 1,000 homes, supported by global investment company Abrdn, are to be built on the sites of two Waitrose shops in Bromley and West Ealing, both in Greater London, and replace a vacant John Lewis warehouse in Mill Lane, Reading.

Bhatia said: "We see rental housing as a way we can help improve local communities. It will create jobs and new communal spaces, and local residents can benefit from a new Waitrose shop.

"We would bring the partnership’s values and experience in providing great customer service to renting a home. And it would benefit the partnership by bringing in new, sustainable income over the long-term."

However, the partnership emphasised that retail brands John Lewis and Waitrose will "always be a priority".

The news follows Dame Sharon White's plans to step down as Chair of the partnership at the end of her current five-year term.

White has initiated talks with the partnership's board to appoint a successor. The move will make her the shortest-serving chair in the partnership’s 100-year history.