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It would be somewhat reliable, although - depending on proximity - perhaps not that different from simply drawing a sector around south-west London: https://www.google.com/maps/search/waitrose/@51.505609,-0.33... .

The rub is that this area is not well-connected to the tube, at least for another 10-15 years.

There's a single Waitrose south of the river. Huh.

EDIT: Okay, 2. Missed the one in Greenwich. Still huh.

Most old council estates are privately owned now. Many newer ones are also being sold as shared ownership.

I can't speak for Waitrose specifically, but luxury brands will definitely do a comprehensive analysis of the surrounding area before opening a store. In the US at least, the equivalent is looking for the closest Starbucks or Apple store.