Shop smart with Build to Rent
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- 02nd Aug 22
Pop to the shops to find a new home? Why retailers are getting in on the Build to Rent sector action and how it can benefit the customer.
John Lewis
Retail giant John Lewis & Partners is a brand of high-end department stores known for quality and cracking Christmas adverts. But now, it’s shifting its focus towards developing homes in the Build to Rent sector, and its first three locations have been announced.
Design matters
Build to Rent prides itself on offering exceptionally high-quality homes with first rate interior design. The John Lewis brand can draw on its reputation and will create options for fully furnished homes, with customers being able to enjoy the high-end status that is synonymous with the brand.
What’s available?
The first three locations for the rental homes will be Bromley in South London, Ealing in West London and Reading in Berkshire. All the areas offer an attractive location with good commuter links. Work on the sites is expected to start in 2024, subject to consultations with local residents. Residents are expected to move in by 2027.
What can customers expect?
The John Lewis homes will follow the high standards of all Build to Rent developments and will focus on creating communities where people enjoy the life of being a resident. The homes will be furnished with John Lewis products and like many other Build to Rent schemes, will feature a range of facilities that transforms the living experience. This includes communal areas such as roof gardens, gyms, flexible office space and meeting/events rooms to host community and social events.
Who is likely to move in?
There is a wide demographic interested in the Build to Rent sector and the John Lewis homes. It could be professionals, families with young children or those wanting to enjoy their retirement. All customers will be seeking flexible and attractive accommodation that will give them what they need at every stage of their lives. Many homes will be available with reduced upfront fees and long-term tenancy options and there will be a focus on energy efficiency and green space, which are becoming increasingly important to tenants.
A growing trend
Build to Rent is characterised by providing customers with experiences that they value, creating increased demand across the rental sector. It also has the potential to target a growing demographic of long-term renters, which is increasing all the time. So, it is no surprise that John Lewis is not alone in being part of this vibrant sector. Other big names such as Legal & General and Lloyds Bank have also recently invested. Although Build to Rent started out as appealing to just the high-end consumer with significant disposable income, its growth today is driven by main-stream renters.
Shop till you drop
If shopping is your cardio, then you will be interested to learn about a residential project of Build to Rent homes adjacent to Westfield Stratford City, managed by Greystar. It’s due to open to its first residents in January 2023, just in time for the New Year’s sales. Coppermaker Square is a Build to Rent development next to Queen Elizabeth Olympic Park and Westfield Stratford City. In total, the Coppermaker Square project is made up of nine residential buildings, ranging from eight to 38 levels, all arranged around a landscaped public square with additional green spaces for residents.
The apartments will be a mix of studio, one, two, three and four-bedroom units, many of which will benefit from views over the Olympic Park and London as a whole. The scheme will have a dedicated amenities hub plus a commercial space, as well a gym, exercise and wellbeing studios, a 25m pool with spa facilities, a co-working space, a residents’ lounge, a private roof garden and a cinema room.