What: The John Lewis Partnership has revealed plans to build 1,000 rental properties on its land as part of a plan to diversify its business.

Why it is important: John Lewis Partnership plans to utilise its own property portfolio to build 5,000 out of 10,000 homes within the next ten years, which will be available in different sizes with short- and long-term tenure options as well as the option to be furnished by John Lewis.

The first three proposed sites include building over Waitrose shops in Bromley and West Ealing in Greater London, as well as replacing a vacant John Lewis warehouse in Mill Lane, Reading.

The project, which is subject to planning permission, includes commitments to affordable housing and sustainability tied to its 2035 net-zero pledge.

John Lewis looks to diversify through rental properties Source 1

John Lewis looks to diversify through rental properties Source 2