The John Lewis Partnership is pulling out of a £500m deal to build almost 1,000 residential rental homes for rent in Bromley, Reading and West Ealing amid a “cautious property market”.
The retailer, which owns Waitrose supermarkets and John Lewis department stores, blamed a “fundamental shift in the economic conditions”, which it said had made it difficult for its financial partner, Aberdeen, to raise funds for the venture, first launched in 2020.
