John Lewis Partnership has submitted ambitious plans to transform a Reading site into a vibrant rental community.
- The proposal involves investing over £80m to develop 215 rental homes next to the Oracle shopping center in central Reading.
- This initiative is part of a £500m joint venture with Abrdn, aiming to deliver about 1,000 homes across London and Reading.
- Following a similar project in Bromley and a pending plan in West Ealing, this proposal marks John Lewis’s shift from traditional retail.
- If approved, construction is set to begin in early 2026, welcoming first residents by 2028.
The John Lewis Partnership has laid out ambitious plans to redevelop a former distribution warehouse site in Reading into a thriving rental community. This major undertaking entails an investment exceeding £80m, aiming to construct 215 rental homes featuring one, two, and three-bedroom options. The development is strategically located opposite Reading’s Oracle shopping center, incorporating 6,000 square feet dedicated to internal amenities and community spaces, alongside two expansive external garden areas.
This initiative is a segment of a broader £500m multi-decade venture with investment firm Abrdn, designed to deliver approximately 1,000 new homes in London and Reading. The project embodies the company’s strategic pivot from retail under the guidance of its outgoing chairman, Sharon White, who announced these diversification plans in 2020.
Building on its recent success with a rental housing scheme in Bromley, London, John Lewis has also proposed a similar development in West Ealing, located merely five minutes from a Crossrail station. Both applications were formally submitted in June 2023.
The comprehensive scheme submitted to the Reading Borough Council is anticipated to undergo consideration by a planning committee early next year. Upon approval, construction is projected to commence in early 2026, with the inaugural group of residents potentially moving in by 2028, marking the pioneering habitation of a John Lewis Partnership home.
Katherine Russell, John Lewis Partnership’s director of build-to-rent, emphasized the collaborative efforts with Reading Council’s planning officers, local residents, and organizations. “We have worked closely to propose a scheme that will benefit residents and the wider community by transforming a disused industrial site into a thriving rental community,” she stated, highlighting the project’s focus on communal enhancement.
John Lewis’s Reading housing plans signify a strategic evolution towards creating inclusive urban communities.
