What: John Lewis Partnership received approval for its Reading mixed-use development, advancing its strategy to diversify assets and modernize its retail footprint.

Why it is important: The Reading approval underscores the sector-wide trend of integrating asset diversification and retail transformation to adapt to changing market demands.

John Lewis Partnership’s approval for the Reading mixed-use development signals a decisive evolution in the company’s approach to property strategy and retail transformation. By securing the green light for this project, John Lewis is not only diversifying its asset base but also responding to the growing need for urban regeneration and the integration of retail with residential and community spaces. The Reading scheme, alongside the recently approved West Ealing development, demonstrates the retailer’s commitment to maximising asset value while navigating the complexities of planning, affordability, and commercial viability. These initiatives are underpinned by a substantial £800 million investment in store renovations and experiential retail, reflecting a renewed focus on core retail excellence and customer experience. Under Peter Ruis’s leadership, John Lewis is blending its heritage with innovation, repositioning itself competitively and redefining the department store’s role in the modern urban landscape. This strategic shift highlights how leading retailers are adapting their property portfolios to remain relevant and resilient in a rapidly changing market.

IADS Notes: John Lewis Partnership’s approval for the Reading development in October 2025 (Retail Week) is part of a broader transformation, with the Reading scheme’s challenges and the West Ealing approval (Drapers, May 2025) illustrating the complexities and opportunities of mixed-use projects. The retailer’s £800 million investment in store renovations (WWD, October 2024) and Peter Ruis’s modernisation strategy (Drapers, February 2025) further underscore the company’s commitment to asset optimisation, urban regeneration, and competitive repositioning in the UK retail sector.

John Lewis Partnership receives green light for Reading development