John Lewis has submitted a planning application to build hundreds of build-to-rent flats in Reading as part of ambitions to become a major residential landlord.
Stacy Eden, National Head of Real Estate at audit, tax and consulting adviser RSM UK, said: “John Lewis’ plans to build 215 rental flats by transforming an unused distribution warehouse is a great example of revitalising brownfield land [and] will help to alleviate some of the growing housing pressures in Reading by providing much-needed rental housing stock.
“However, there remain key challenges in terms of planning reform, so the government’s focus on accelerating the planning system and revising the National Planning Policy Framework [NPPF] will hopefully ensure that the development can be started sooner rather than later.”
Click here for more information on planning policy regarding the NPPF brownfield sites.
Image credit | John Lewis
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