The John Lewis Partnership has announced its first three locations where it proposes to build new rental homes.
The three locations were announced after confirming its target to deliver 10,000 homes in the next 10 years.
The homes will be part of the UK’s ‘built-to-rent’ property market, the Partnership said it “seeks to raise standards in rental property” and will be the developers and manage the buildings.
This announcement comes as part of John Lewis Partnership’s plan for 40% of profits to come from outside of retail by 2030.
Nina Bhatia, executive director for strategy and commercial development at the John Lewis Partnership, said: “Everything people love about our brand , quality, trust and service, we want to bring to the experience of renting a home with us.”
“Our role as developer and operator, as well as an already established local business and employer, signals our ambition to bring long-term value to each of these communities.”