John Lewis runs into trouble over first housing project
What: The first housing project advertised as part of John Lewis’ grand plan is encountering difficulties.
Why it is important: This is a big test, and those difficulties arise just after the exit of the CEO who was in charge to launch this strategy, Pippa Wicks.
John Lewis Partnership's plan to build 430 flats in towers up to 19 storeys high in Ealing, west London is facing resistance and delays.
Local residents and a pressure group have raised concerns about the height of the towers and lack of affordable housing. The project is months behind schedule and has not yet filed a planning application. The delays and objections could impact the company's ethical profile and PR.
The project is part of the retailer's diversification plan to target 40% of group profits from non-retail sectors by 2030, which includes building and renting out 10,000 homes within a decade.
