Savills supports John Lewis’ plans for BTR scheme in Reading
Savills acted on behalf of the John Lewis Partnership to submit a planning application proposing the creation of a build-to-rent scheme in Reading.
The scheme will be the first of its kind from John Lewis outside of London, and will see an investment of £80m to create 215 energy-efficient homes as well as 6,000 sq ft of internal amenity, including space for community uses, external garden areas, and improved public realm.
Located adjacent to the A329 and opposite The Oracle shopping centre in the town centre, the site – which is a former distribution warehouse – sits in close proximity to Reading Train Station, providing access to London in under an hour.
The new project is set to include a mixture of one, two, and three bedroom homes which will be supplemented by shared areas for fitness, home-working, and socialising.
John Lewis said the homes will be highly sustainable, using high performance materials with renewable energy resources. Due to the development’s proximity to the town centre and the availability of the local transport network, the scheme will be car-free, barring accessible spaces.
The group added that the proposals reinforce its ambition to create a housing brand designed specifically for renters, in a bid to ease housing pressures and generate long-term, stable income.
John Lewis recently received a resolution to grant planning consent, also secured by Savills, to transform a Waitrose site in Bromley. The proposals detail improvements to the existing shop and the construction of 350 homes.
Jon Sebbage from Savills Central Planning, said: “We are very pleased to have supported JLP in reaching this key milestone following several years’ work with the project team. The proposed scheme will deliver significant public benefits in Reading, including the provision of much-needed housing and residents facilities, flexible commercial and community space, high-quality landscaped areas and a wider social value programme.”