John Lewis Partnership has emerged as the clear favourite to anchor the new retail phase at Canary Wharf. The company is expected to unveil a new retail concept if it wins the deal.
The retailer is thought to be considering taking both the department store and the food store in the planned 16,722 sq m (180,000 sq ft) extension, with heads of terms likely to be agreed within weeks. John Lewis runs over 120 Waitrose supermarkets as well as 25 department stores, and the new concept seems likely to combine both types of operation.
If the deal comes off, John Lewis will have beaten competition for the Canary Wharf space from Marks & Spencer and House of Fraser. One source close to Canary Wharf said he was led to believe that John Lewis is Canary Wharf’s preferred operator. “I was told that the chosen operator was a department store with a supermarket,” he said.
John Lewis claimed the firm had no plans for Canary Wharf.
EGi News 30/05/00
