As reported earlier this year the financially troubled John Lewis Partnership announced its plans to create Build To Rent properties in land around Waitrose Stores and or on top of the stores; and now Tesco has just announced that it is also entering into the Build to Rent sector.

Tesco is now working with developer Astir describing the BTR scheme as being “innovative” which will be developed in Lewisham.

Travis Crawford, a partner in Astir, says:. “We are delighted to be working with Tesco to bring forward these exciting proposals to deliver much-needed new housing for rent in Lewisham, grounded in our focus on exemplar place making and sustainability. The redevelopment proposals will continue the successful regeneration of Lewisham town centre and we look forward to working with the London Borough of Lewisham to bring this exciting development forward.”

The acquisition of the four acre site in Lewisham aims to expand Astir’s portfolio of residential-led mixed-use developments. The scheme will also include a purpose built Tesco superstore and substantial commercial space.

Tesco’s property acquisitions director, Marcus Vinnicombe, says: “We are excited to be working with Astir to deliver a new vision for our Lewisham superstore and look forward to serving customers locally for many years to come.”