John Lewis Partnership (JLP) has expanded its build-to-rent operations to nearly 1,000 homes, after taking over a fourth site in Stratford, East London.
From 1st September, the partnership will manage 158 studio flats at Stratford Studios, which was converted from offices in 2022.
The business already manages 326 homes in Leeds, 232 in Leicester and 259 in Birmingham, all owned by clients of Aberdeen Investments.
The partnership has a £500m joint venture with Aberdeen Investments to develop and run rental homes.
John Lewis Partnership is also pushing ahead with plans to build rental homes on its own sites.
Katherine Russell, director of build-to-rent for JLP, 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, said: “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.”
McDonnell added: “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.”
