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John Lewis Kicks Off Plans for 10,000 New Rental Homes With Sites Over Waitrose Shops

  • Retailer seeks to diversify portfolio with 10,000 new homes
  • Company wants 40% of profits to be from outside retail by 2030
A Waitrose store in Bromley in London.

A Waitrose store in Bromley in London.

Source: Google Maps

John Lewis Partnership Plc is looking to kickstart a plan to develop 10,000 UK rental homes by building on the sites of two of its Waitrose Ltd. upmarket grocery stores in London.

The British department-store chain is seeking permission to construct properties on top of a Waitrose shop in Bromley and to replace one in West Ealing, according to a statement Thursday. A vacant John Lewis warehouse in Reading, a town west of the city, will also make way for new homes.