John Lewis Partnership (JLP), supported by Savills, has secured planning consent for a £70m build-to-rent (BTR) scheme in Reading.
Reading Borough Council approved the project unanimously.
The scheme, delivered in partnership with joint venture partner Aberdeen, will be built on the site at Mill Lane, which used to be a distribution centre, and will provide 170 homes.
About 16% of the homes will be affordable and all will use air source heat pumps.
Local people will get first refusal on the one, two and three-bedroom flats.
The scheme will deliver nearly 5,000 square feet of indoor amenity space for fitness, homeworking and socialising, along with landscaped communal gardens.
There will also be a new community space and access to gardens for local groups.
The project will deliver a biodiversity net gain of 328%, above the 10% required by policy.
Construction is expected to create over 120 jobs, including apprenticeships.
Over the next 10 years, the scheme is set to add £18m in household spending and council tax, supporting local businesses and services.
Katherine Russell, director of BTR for JLP, said: “This planning consent marks an important moment in our 70-year commitment to Reading and has been achieved through close collaboration with the local authority.
“We’re pleased to have the opportunity to invest further in the community by helping to deliver much-needed new homes.
“Our ambition is to take the reputation we have built for service and trust into housing, ensuring residents feel the same quality and care that has defined our brand for generations.”
Anne Breen, global head of real estate at Aberdeen, said: “John Lewis brings something quite different to build-to-rent—centrally located, money-can’t-buy sites, a brand people know and trust, and a stand-out commitment to service already evident across the homes they manage.
“Reading is another important step in growing a platform that fosters genuine social value by building communities that foster connection, pride, and wellbeing.
“Build to Rent, done well, could transform the UK’s private rental stock into places people truly want to live and call home.”
Jon Sebbage, associate director at Savills Central Planning, said: “We are delighted to have secured this unanimous approval for JLP following extensive positive engagement with the local planning authority and collaboration over a number of years.
“The consented scheme will provide much-needed sustainable homes, community space, and garden areas, delivering significant public benefits for local people in central Reading.”
