John Lewis ditches plan to build 10,000 homes
Financial Times
February 25, 2026
AI-Generated Deep Dive Summary
Retail giant John Lewis has abandoned its ambitious plan to build 10,000 new homes as part of a £3 billion property development venture. The decision comes amid shifting UK economic conditions and a slowdown in the property market, which have made the project less viable. This move reflects broader challenges facing the retail sector, particularly as businesses grapple with reduced consumer spending and rising costs.
The UK’s economic uncertainty has played a significant role in John Lewis’s pivot away from its residential development strategy. The company had hoped to leverage its expertise in retail property management to expand into
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Originally published on Financial Times on 2/25/2026