In June 2022, John Lewis Partnership (JLP) said they had chosen three locations where they could create build to rent homes. They were looking to diversify into the private landlord industry, ultimately creating thousands of new homes. It has been a long road for the projects, but there was an impressive milestone earlier this summer when one plan got planning permission. We want to look at this today, then you can speak to us if you want guaranteed rent in Ealing.

The proposal

JLP’s plan here is to redevelop the site of a current Waitrose in Bromley South. The Brownfield site is a great location, close to the train station, local schools, parks, and town centre amenities. Their plan is to build on top of the existing store and a vacant warehouse. It will create 353 homes, all available to rent.

The project will be more than just housing though. It will also modernise and improve the Waitrose shop. Plus, there will be a new cafe. Impressively, the shops will overlook a new public piazza for the site. There will be three new cycling and walking routes too, with one working as a woodland link.

Bromley Council gave full planning permission for the flagship project. It will create 200 construction jobs to redevelop the site. Impressively, once all the homes are built and occupied, the estimate is it will bring in £70m in council tax and local spend in the first decade. That would be really fantastic for the local economy. It could bring big changes, and we’d be happy to offer guaranteed rent in Bromley for investors that want it.

The response

JLP has been working with Savills to secure planning permission for the site. The head of social value at Savills Earth (the sustainability branch of the company), Wesley Ankrah, had some great things to say about the work. Crucially, he said the approval of the project is a “positive and important result”. Notably, he mentioned that there has been more local support for the work than opposition to it.

Wesley also went on to say that JLP had been careful about engaging with the local community. The goal was to listen to what people want from a significant regeneration project in Bromley town centre. They could then ensure the design would provide it, creating a diverse space and also creating new communities.

It will be interesting to see what happens next. JLP’s work at Bromley South can now begin. There is hope it could inspire other redevelopments. However, a second project for West Ealing did not get planning permission. They are currently planning to appeal to this decision. In addition, they are working on plans for a project in Reading.

Want to try guaranteed rent in Bromley?

There are plenty of fantastic locations in London if you want to invest in properties. Some, such as Bromley, can provide a great combination of affordability and high demand. That will tick the boxes for most investors. Projects to create new housing and improve parts of the area help too.

If you do invest and then want to protect your income, you can come to us for guaranteed rent in Bromley. It is a highly rated service because it offers a range of benefits. Most crucially, it makes it easier to make money from assets and gives the guarantee of a monthly payment with no interruptions.

So, if you want to learn more or have questions, please contact us; we are here to give you advice and recommendations.