The news comes following an announcement that the brand is looking to expand their business beyond just the retail sector.
The new strategy was unveiled by Chair, Sharon White who commented that 40 per cent of the company’s future profits could be generated from areas such as financial services and private, affordable housing by 2030. Initial planning applications will be submitted at the beginning of 2021 and will detail the company looking to build flats around or above their stores.
Sharon White commented: “We’ve identified 20 sites we own that could be used to benefit local communities by providing quality and sustainable housing while providing a stable income for the Partnership. We’ll make planning applications for two of these in the New Year in greater London. We’re a landlord already at three of our properties so this is an obvious extension for us.”
White also goes on to comment that John Lewis, as the landlord, will be able to furnish the properties with John Lewis Home products and also offer Waitrose food delivery.
