Business · 25 February 2026
John Lewis scraps plan to build 1,000 new homes
The retailer is cancelling its 2020 initiative to construct residential properties at three specific locations. Executives blamed the decision on rising building prices and higher interest rates compared to when the project began. The firm will now concentrate on its main shop brands while likely selling land in Reading. Property management deals in cities like Leeds and Birmingham will finish before that division closes.
Reported by BBC · How we write briefs