The proposals were submitted to Reading Borough Council.
JLP's proposed regeneration of the site will see more than £80 million invested to create 215 high-quality and energy-efficient homes, as well as 6,000 sq ft of internal amenity space, including space for community use, two new external garden spaces and improved public realm.
Located next to the A329 and opposite the Oracle shopping centre in central Reading, the site benefits from close proximity to Reading Train Station, providing access to Central London in less than an hour.
The homes will be purpose built for renters with shared areas for fitness, home-working and socialising, and will include a mix of one, two and three-bedroom homes to accommodate different sized households. Options for long-term tenancies with a recognised and trusted brand will be offered to provide residents with the opportunity to remain living there for as long as they wish.
The homes will be highly sustainable, using high performance materials with renewable energy resources. Given its proximity to the town centre and local transport network, the development will be car-free with the exception of accessible spaces.
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New green spaces for the public, including children’s play, and a new space for local community groups has been included. The proposals have sought to establish new community partnerships that build on the work already being done by the existing local Waitrose and John Lewis shops. The scheme will provide 10% affordable homes at Reading Local Housing Allowance levels. Additionally, it is estimated to generate more than £1.9m million of new household spend per year, supporting local shops and services.
JLP aims to prioritise residents already living and working in Reading, with the 2021 Census finding 48% of the population renting compared to an average of almost 38% across England, and population growth of 12% since 2011. Transforming a disused industrial site to create a thriving new rental community will help the town to retain talent and support residents who want to see better quality rented housing.
The Reading proposals reinforce JLP’s ambition to create a rental housing brand that will manage homes designed specifically for rent in a bid to ease housing pressures and generate long-term, stable income to support investment back into our Waitrose and John Lewis brands. A core part of the strategy is renewing brownfield sites that have great transport connections, enabling people to travel to work quickly and sustainably.
JLP recently received a resolution to grant planning consent to transform a Waitrose site in south London, next to Bromley South rail station, and is progressing another application in West Ealing five minutes from the local Crossrail station.
Katherine Russell, Director of Build-To-Rent for the John Lewis Partnership, said: "We have worked closely with Reading Council’s planning officers, local residents and organisations to propose a scheme that will benefit residents and the wider community by transforming a disused industrial site into a thriving rental community. By revitalising brownfield land we have a fantastic opportunity to provide a significant number of homes which can help alleviate some of the growing pressure on Reading’s housing market. These will be homes not only developed by us, but managed by us, meaning we can offer quality service and a guarantee that homes will not be sold off, as so often happens in the rental market."
