John Lewis hires former Royal Mail boss who oversaw housing development

The John Lewis Partnership plans to build more than 400 apartments above Waitrose Street in West Ealing. Photo: Sean Dempsey/PA

Owner John Lewis and Waitrose has hired a former Royal Mail property executive to oversee its housing development.

John Lewis Partnership has hired Martin Gafsen as its new property director, replacing Chris Harris, who resigned in June.

Mr Gafsen is currently interim director of corporate finance at Royal Mail, but was previously the company's director of property.

The new appointment comes as John Lewis embarks on a major home build as part of a plan whose chairman Dame Sharon White is looking to diversify its business beyond retail.

Mr Gafsen has worked on residential projects during time at Royal Mail, helping develop plans to transform the Mount Pleasant sorting office in North London into 681 homes.

Despite criticism from Islington and Camden councils over the level of affordable housing. housing development, the project was approved by the then Mayor of London Boris Johnson in 2014.

The site was then sold to developer Taylor Wimpey for £193.5 million in 2017 and subsequently converted into apartments.

p>Mr Gafsen said: “I am honored to join the Partnership, home to two of the UK's best-loved brands.”

“With a large and valuable property portfolio, we have an important role to play in securing it. continues to deliver long-term value to customers and partners for generations to come.»

John Lewis wants to build 10,000 rental homes by 2030 and wants 40% of profits to come from offshore activities by then retail. .

Gafsen's predecessor, Harris, was a key figure in Mrs Sharon's housing efforts and helped secure a £500 million deal with fund manager Abrdn to finance 1,000 homes in Reading, Bromley and West Ealing.

< p>Projects John Lewis's property developments have been met with local resistance. Plans to build more than 400 apartments above Waitrose in West Ealing, London, face complaints from local residents over the proposed 20-storey height of the development, while a development in Bromley has drawn criticism for offering fewer affordable homes than the borough council recommended. .

Planning documents also revealed that the company will make a negative profit of £57 million from the West Ealing development.

As well as building houses, the partnership is also carrying out a major refurbishment of its Waitrose. the shops. Some will be moved to other locations and upgraded to make them more economical and energy efficient.

Dame Sharon, who joined the JLP in 2020, said this month she would not stand for a second term as chairman when her five-year term expires in 2025.