John Lewis continues real estate venture with Bromley proposal
The John Lewis partnership is looking to invest further into real estate projects, having unveiled plans for its latest scheme in Bromley.
The proposals detail improvements to the existing Waitrose shop, as well as the creation of a public piazza, café and green spaces.
The plans also include the construction of around 350 homes.
In December, John Lewis announced a joint venture with global investment firm abrdn which looks to deliver 1,000 new homes in a £500m deal.
John Lewis said that although it has unveiled the design for Bromley, it will continue to evolve the plans as the consultation process involving residents and community groups continues.
The site is located next to Bromley South Rail Station in the centre of the South London town. John Lewis said it had tested various designs to determine how the buildings would integrate with the site’s surroundings.
The newly constructed properties would be owned, developed, and managed by John Lewis, who says it is aiming to deliver 10,000 homes in the next 10 years, half of which would be built within schemes within its own portfolio. The group is aiming for 40% of its profits to come from non-retail income by 2030.