John Lewis has revealed bold plans to turn unwanted department stores and Waitrose supermarkets into blocks of flats.
The retailer has already closed eight of its 50 department stores, but chair Dame Sharon White told staff that more closures were on the way.
“As we repurpose and potentially reduce our shop estate, we want to put our excess space to good social use,” she said. “We are exploring with third parties the concept of new mixed-use affordable housing.”
These could include using some of the partnership’s significant land and property assets — as well as some freehold stores, it owns a 2,800-acre farm in Hertfordshire, four hotels and various logistics facilities — for private rented housing.
