Aberdeen appoints VervLife to take over four BTR assets from JLP. Aberdeen has appointed rental living operator VervLife to manage four build-to-rent (BTR) schemes, taking over from John Lewis Partnership (JLP), Property Week can reveal. The schemes comprise nearly 1,000 units, including 326 homes in the Clarendon Quarter in Leeds, 232 homes in the Queen Street Quarter in Leicester, 259 homes in Landrow Place in Birmingham, and 158-apartments at Stratford Studios in east London. All four were managed by JLP before it announced it was exiting the BTR market in February, pointing to a "fundamental shift in the economic conditions". It added that it would fulfil its existing management contracts at all four sites as its made a "responsible transition out of the business". Aberdeen has now appointed VervLife, a management company based in Harrogate, to manage the sites. An Aberdeen spokesperson said: "Following a thorough selection process, Aberdeen Investments has appointed VervLife as operating partner for its UK multi-family assets, reflecting its residential expertise, customer-focused approach, technology-led platform and operational strength. "VervLife demonstrated the experience, capabilities and strategic alignment required to support Aberdeen's growing living sector platform and deliver strong outcomes for residents and investors." Aberdeen first appointed JLP to manage its Clarendon Quarter scheme in 2023. The Leeds site comprises furnished one to three bedroom homes, including apartments for key workers at a discounted rental level. It was completed in 2017 before being acquired by Aberdeen in 2020. JLP was then hired to manage both the Queen Street Quarter scheme and Landrow Place in 2024. The latter was completed in 2021, with amenities including fitness, home-working and socialising areas. Finally, JLP took over Aberdeen's Stratford Studios scheme, located near Queen Elizabeth Olympic Park, last August, after it was converted from a former office building in 2022. JLP originally launched the BTR business in 2020 and progressed on three major schemes, in Reading, Bromley and West Ealing. The partnership said it was now looking to "refocus on the partnership's core retail brands", John Lewis and Waitrose. It placed the brunt of the blame for its withdrawal on the sector's rapidly evolving climate, claiming its ambitions were based "on a very different financial environment: one with more stable investment returns, lower borrowing costs and more affordable costs to build". Last month, Katherine Russell, director of BTR at JLP, announced she was stepping down after nearly 20 years with the company.

John Lewis to cut 200 roles as it axes in-store services. Management has stressed that no final decisions have been taken Latest Podcast Episode On this episode of Talking Shop, Retail Sector sit down with Katie Peake, Co-Founder of creative agency Backlash, to talk about the roaring comeback of brick-and-mortar retail. Katie shares how temporary spaces can completely transform a heritage brand's perception, win over hyper-savvy Gen Z shoppers, and serve as a vital tool for capturing first-party customer data. Select a subscription plan. John Lewis Partnership (JLP) has put up to 200 roles at risk under plans to close its in-store foreign exchange and gift wrapping services, citing declining demand from customers. The 36-strong department store chain has started a redundancy consultation with staff. The proposed changes affect bureau de change desks in 30 shops and gift wrapping services in 25 locations, impacting 125 full-time equivalent roles. Management has stressed that no final decisions have been taken. If the proposals go ahead, customers must order currency online for home delivery or collection at John Lewis and Waitrose branches. News comes after JLP cut 3,300 jobs last year to bring its total workforce to 65,700. Around 1,500 of those cuts occurred within the department store division. While the company has previously closed branches and scrapped a housing rental scheme to reduce costs, it paid workers a 2% bonus in March after underlying profits rose by 6%. The chain finished second in the UK Customer Satisfaction Index this week, which the Institute of Customer Service publishes. A spokesperson for John Lewis said: "Its customers are increasingly buying the broad range of currencies Retail Sector offer online. As Retail Sector focus on modernising this proposition to meet its customers' changing needs, Retail Sector is proposing to close its in-store foreign exchange bureaus as well as its gift wrapping service. "As a result, we're regretfully consulting with Partners who currently deliver these services. This isn't a decision we've taken lightly, and we will support impacted Partners throughout the consultation process and support redeployment where possible." Published: 58m ago

John Lewis Finance appoints Gerry Mallon to board. Former Tesco Bank chief executive joins retail group's financial services division Latest Podcast Episode On this episode of Talking Shop, Retail Sector sit down with Katie Peake, Co-Founder of creative agency Backlash, to talk about the roaring comeback of brick-and-mortar retail. Katie shares how temporary spaces can completely transform a heritage brand's perception, win over hyper-savvy Gen Z shoppers, and serve as a vital tool for capturing first-party customer data. Select a subscription plan. The John Lewis Partnership has appointed Gerry Mallon as an independent non-executive director to the board of John Lewis Finance Limited, subject to regulatory approval. Mallon has more than 20 years of retail financial services experience, including six years as chief executive of Tesco Bank, two years as chief executive of Ulster Bank Ireland, and eight years as chief executive of Danske Bank. He currently serves as chief executive of financial services firm True Potential. His appointment comes as John Lewis Money expands its operations following its transition to become an FCA-authorised and regulated insurance and credit broker. The subsidiary manages the partnership's consumer finance portfolio, which includes insurance products, the Partnership Credit Card and point-of-sale payment options. Jane Hanson CBE, chair of John Lewis Money, said: "I am delighted to welcome Gerry to the board of John Lewis Money at such an exciting time for the brand. He brings deep sector expertise and a strong understanding of how to build customer-focused financial services businesses. His insight will be hugely valuable as we continue to grow John Lewis Money and build on the distinctive place the brand holds in the market." Gerry Mallon, non-executive director, added: "John Lewis Money is a business with a strong reputation and a distinctive position in the market. It is built on values that matter deeply to customers - trust, service and quality - and that creates a powerful platform for growth. I'm delighted to be joining the board at such an important point in its journey and look forward to working with the team to support the continued development and success of the business." Published: 8m ago