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Evening Standard
Evening Standard
National
Henry Saker-Clark

John Lewis pulls plug on affordable homes venture after costs soar

John Lewis the John Lewis Partnership JLP John Lewis Partnership Waitrose
The John Lewis Partnership is withdrawing from its build-to-rent venture (Tony Buckingham/John Lewis/PA) - (PA Media)

The John Lewis Partnership (JLP) has abandoned plans to build around 10,000 rental properties, blaming higher costs and caution in the property market.

The retail firm, which runs the John Lewis department store chain and Waitrose supermarkets, launched its build-to-rent ambitions under previous chairwoman Dame Sharon White in 2020 amid challenging retail conditions.

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