John Lewis Partnership expands BTR business to nearly 1,000 homes
The John Lewis Partnership (JLP) has expanded its build-to-rent operational business with the addition of a fourth site, taking the total number of homes it manages on behalf of Aberdeen Investments to nearly 1,000 homes.
From September, the JLP will take over the management of Stratford Studios in East London, which which was developed in 2022 and comprises 158 studio apartments.
The JLP’s build-to-rent operations business was established nearly two years ago to operate existing rental homes and manage new ones developed by JLP as they’re completed. It currently manages 326 homes in the Clarendon Quarter in Leeds, 232 homes in the Queen Street Quarter in Leicester, and 259 homes in Landrow Place in Birmingham.
All four buildings are owned by clients of Aberdeen Investments, which sees JLP build on the £500m joint venture it has with the global investment company to develop and manage homes.
Stratford Studios, located near The Queen Elizabeth Olympic Park, sits in close proximity to transport links and a range of dining, entertainment, and shopping options. The building was converted from offices to residential homes with shared areas for home-working and socialising as part of plans to regenerate the area following the 2012 Olympic Games.
Katherine Russell, director of build-to-rent for the John Lewis Partnership said: “In just two years, we have established a strong operational platform that has brought about significant improvement in customer satisfaction scores and now operates nearly 1,000 homes. Alongside two planning consents for our own sites and another in progress, as well as developing a pipeline of other sites, this signals real momentum in achieving our long-term housing ambitions to meet the demand for greater standards of quality and care.”
Robert McDonnell, fund manager for Aberdeen, added: “The build-to-rent sector is one of our highest conviction real estate calls in the UK, driven by robust market fundamentals and compelling long-term growth potential.
“We strongly believe that success in this sector goes beyond financial performance – it involves making a significant, positive impact on the quality of life for residents and ensuring smooth integration into the fabric of local communities. Achieving this requires collaboration with trusted operators who share a common vision and values, and who bring the right experience, strong governance, and a clear strategic focus.
“Through our partnership with JLP, a fully-integrated operational partner, we have already seen improvements in performance and customer service scores across Aberdeen’s wider JLP-operated residential portfolio. These outcomes reflect their strong consumer orientation with a commitment to raising standards in the rental sector and enhancing experience for renters across the UK.”