Major UK retailer given green light to build HOMES in first for company as it looks to build 350 new flats
A MAJOR UK retailer has been given the green light to build 350 new homes in a first for the company.
John Lewis has revealed plans to transform its Waitrose site in Bromley, south east London.
The firm will build 353 rental flats above the existing supermarket, which will also get a makeover.
Flats will be built to rent with shared areas for fitness, socialising and working from home.
They will include a mix of one, two and three-bed flats – and “as much affordable housing as is commercially viable”.
Only one in ten flats will be classed as “affordable” – meaning their rents will be set at 80 per cent of the market rate.
The John Lewis Partnership had originally vowed to class more than a third of the new homes as affordable.
JLP’s Katherine Russell said: “We’re delighted that the elected members have agreed with the recommendations of their planning officials.
“The recommendations have received significant support from the residents of Bromley.
“This now gives us the opportunity to enhance the local area, create vital new housing for the local people of Bromley.
“We will also deliver a state-of-the-art Waitrose, which sits at the heart of the community.”
Property firm Abrdn has signed a £500million joint venture with JLP to build 1,000 new homes at three different sites.
Abrdn’s James Dunne said: “Well-designed and professionally managed rental homes are a vital component in helping to solve the UK’s housing needs.
“Build-to-rent on brownfield sites such as this can also act as an anchor for town centre regeneration and wider community investment.
“We look forward to continuing working closely with JLP to move forward with our strategy.”
Why are supermarkets building new 'towns'?
MORE and more UK supermarkets and shopping centres are being turned into swish blocks of flats.
Many big stores have had their value wiped out by the rise of internet shopping.
Some chains are now opting to tear down flagship stores and replace them with high-end property.
A study by Savills found nearly 24,000 homes could be built on supermarket sites in London alone.
The O2 shopping centre in Camden is being turned into 1,800 homes – at a cost of £1billion.
Huge supermarkets in Fulham and Nine Elms have already been knocked down to make way for housing.
Asda is now branching into house-building after struggling to compete with budget rivals Aldi and Lidl.
But John Lewis and Waitrose have recently scaled back their property ambitions – blaming inflation and local NIMBYs