City AM quotes Suzi Gatward on John Lewis securing approval to build hundreds of homes in London
Bromley council has greenlit a scheme to build more than 350 rental homes in partnership with John Lewis on a brownfield site in the area. The build-to-rent scheme will be developed, owned and managed by John Lewis.
The use of brownfield land – areas within existing communities with the capacity for redevelopment rather than undeveloped green spaces – has recently been floated as one of the ways to alleviate London’s pressing housing crisis.
According to John Lewis, the scheme, which will be purpose built for renters, will “prioritise local people” and feature a cafe plus amenity spaces for community groups and schools.
Reacting to the development, Suzi Gatward, Partner in our Real Estate team, is quoted in an article by City AM. Suzi explains:
This move is a big win for John Lewis as the company looks to diversify its offering and become more than just a retailer. These kinds of build-to-rent schemes are positive for community value, with strong social purpose behind John Lewis’ plans.
"Whilst retailers’ involvement in these kinds of developments has so far been limited, retailers collaborating with housebuilders could see a surge, particularly given an onset of upcoming planning reform under a new Labour government. Housebuilders are also diversifying, with more mixed tenure schemes and voluntary affordable housing, so there is clear opportunity on both sides.
"Mixed-use developments, such as a retail business on the ground floor with residential space upstairs, could become the new norm, and retailers will be keen to explore this as a new opportunity for revenue.
"Today’s decision is not only a win for John Lewis but could be a marker of things to come for the wider retail and residential sectors.
Read the full article in City AM, featuring some of Suzi's quotes, here.
