John Lewis Takes On First London BTR Site While Canary Wharf Ramps Up Vertus
Department store and grocery retailer John Lewis Partnership has expanded its build-to-rent operational business with its first London site in Stratford, taking the total number of homes it manages on behalf of Aberdeen Investments to nearly 1,000 across four locations.
From 1 September, JLP will take over the management of Stratford Studios, which includes 158 studio apartments and was developed in 2022.
Stratford Studios is near the Queen Elizabeth Olympic Park and 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.
JLP’s BTR operations business was established nearly two years ago to operate existing rental homes and manage new units developed by JLP, and it now manages 326 homes in the Clarendon Quarter in Leeds, 232 homes at Queen Street Quarter in Leicester, and 259 homes in Landrow Place in Birmingham.
All four buildings are owned by clients of Aberdeen Investments, and the initiative builds on the £500M joint venture formed by the pair to develop and manage homes.
JLP has also been progressing plans to build new rental homes on its own retail sites. Last year, it was given the go-ahead to redevelop Bromley, with a revamped Waitrose supermarket and 353 new rental homes. In May, it won a planning appeal to build 428 new rental homes. It has also submitted a planning application for a disused former warehouse site in Reading and is developing a pipeline of further brownfield sites.
“In just two years, we have established a strong operational platform that now operates nearly 1,000 homes,” JLP Director of Build-to-Rent Katherine Russell said in a statement. “Alongside two planning consents for our own sites and another in progress, as well as developing a pipeline of other sites, this signals real momentum in achieving our long-term housing ambitions.”
Separately, Canary Wharf Group’s residential leasing arm Vertus has launched BTR development 50-60 Charter Street, situated in Wood Wharf, Canary Wharf's new eastern neighbourhood.
The development includes 756 apartments ranging from 463K SF studios to 1,400 SF family apartments, designed by GriD Architects. The scheme also features 14K SF of amenities, including a lounge, games room, gym, seven meeting pods and four private meeting rooms, plus private dining rooms and six guest suites.
Vertus operates BTR for more than 2,000 residents across 10 George Street, 8 Water Street and Newfoundland sites in Canary Wharf. In 2025-2026 and early 2027, 50-60 and 40 Charter Street will add more than 1,300 new homes to the Vertus portfolio.
