Lord Walker, Bywater & Iceland - Building A Billion Pound Timber-Led Property Business

This week, I sat down with Lord Walker, Executive Chair of Iceland Food Group, Founder and Chairman of Bywater, and the Prime Minister's Cost of Living Champion. Richard started his property career on the JLL graduate scheme in the West End before moving to Warsaw to build a value-add business across Eastern Europe. After returning to the UK, Bywater spent several years searching for its niche before the former Costa Roastery site in Lambeth became Paradise - one of the UK's largest CLT mass timber office buildings. That project helped bring in Sumitomo Forestry, a 400-year-old Japanese partner, and gave Bywater the platform to scale into timber-led workspaces and living assets. In this conversation, Richard talks about patient capital, building through the GFC, why "long term greedy" shapes both Bywater and Iceland, how purpose and profit can sit together, and what his new role in the House of Lords means for his work around the cost of living. We also discuss Iceland's growth into a £4.5bn family-owned retailer, his year working on the shop floor, climbing Everest in 2023, and why resilience has been central to every stage of his career. ⸻ Key Topics Covered in This Episode ✅ From The West End To Warsaw Lessons from the JLL grad scheme and building in Eastern Europe through the GFC. ✅ Paradise, Vauxhall & The Mass Timber Thesis How the CLT office in Vauxhall became the deal that defined Bywater. ✅ Sumitomo And The Power Of Patient Capital Why a 400-year-old Japanese partner is rewriting how Bywater thinks about cycles and product. ✅ Scaling Beyond Offices £1 billion GDV by year end, a new pension-fund vehicle, and the move into living. ✅ Long Term Greedy Why purpose-led businesses last longer and why Gen Z is voting with their feet. [This episode was recorded on 16th April 2026] If you have thoughts or questions about this episode, drop them in the comments. I'd love to hear your take. The People Property Place Podcast is powered by Rockbourne, recruiting leadership talent for real estate funds, owners, investors, and developers. LIKE SHARE SUBSCRIBE 👉 http://peoplepropertyplace.com/