Build-to-rent operational business grows to manage nearly 1,000 homes

The John Lewis Partnership (JLP) has expanded its build-to-rent (BTR) operational business with the addition of a fourth site in Stratford, East London, taking the total number of homes it manages on behalf of Aberdeen Investments to nearly 1,000.

From 1 September, JLP will take over the management of Stratford Studios, which comprises 158 studio apartments and was developed in 2022.

The Partnership’s BTR operations business was established nearly two years ago to operate existing rental homes and manage new ones developed by JLP as they’re completed. It currently manages 326 homes in the Clarendon Quarter in Leeds,  232 homes in the Queen Street Quarter in Leicester, and 259 homes in Landrow Place in Birmingham.

All four buildings are owned by clients of Aberdeen Investments, which sees JLP build on the £500m joint venture it has with the global investment company to develop and manage homes. Aberdeen is one of the UK’s largest fund managers with experience and expertise of investing in residential assets spanning almost thirty years.

JLP has also been progressing plans to build new rental homes on its own sites.  Last year, it was given the green light to redevelop its Waitrose shop in Bromley  with a modernised store and 353 new rental homes, and in May this year was successful in its planning appeal to redevelop Waitrose West Ealing to build 428 new rental homes. It has also submitted a planning application to transform a disused former warehouse site in Reading and is developing a pipeline of other centrally-located, brownfield sites.

Stratford Studios, located near The Queen Elizabeth Olympic Park, benefits from close proximity to transport links and a diverse range of dining, entertainment and shopping options. The building was converted from offices to residential homes with shared areas for  home-working and socialising as part of plans to regenerate the area following the 2012 Olympic Games, and will be managed by JLP Partners, as its employees are known.

Over the past two years JLP has recruited a highly experienced leadership team who have managed large scale, complex projects for Regal, Berkeley Homes, and Greystar.