As they stopped construction of 12 cheap houses, a group of elderly homeowners won the battle against John Lewis.
In an attempt to decrease dependence on retail, the chair of the company, Dame Sharon White, wanted to build twelve new houses to rent in Leckford (Hampshire).
She made it clear last year that she intends to earn 40% of the profits over the next ten-years, excluding retail stores.
As they stopped construction of 12 affordable homes, elderly homeowners from Leckford in Hampshire won the battle against John Lewis.
Retail giant Amazon had planned to begin its devekoping project in 10,000 homes throughout the UK within the next ten year.
John Lewis’ partnership plans to create 10,000 rentals in the next ten year as part of this plan.
Although John Lewis cut its losses in the past year by a whopping £606million from £635million in September 2020 to £29million in the same month this year, the company remains in £1.7billion of debt.
Much is resting on bumper Christmas sales after it posted a £29million loss in the first half of 2021.
Recent strife caused by the pandemic that sent retail prices plummeting has only strengthened their determination to move away from retail and instead focus on real estate.
John Lewis already owns some property in the area, and company chair Dame Sharon White had hoped to build 12 new homes to rent out in Leckford
Her decision was made last year that the copany had to lessen its reliance on retail and more heavily rely on renting out social housing
But her plans to build a tiny village in southern California were stopped by increased traffic.
However, in Leckford, plans to build 12 homes on a street called Church Lane off of the main street were thwarted by John Lewis’s letter to the parish council describing a “significant level of opposition” to the plan.
Leckford had a population of just 113 at the last census. The vast majority are elderly and have protested John Lewis’s plans to increase traffic in their village.
John Lewis spokesperson said that the company was committed to providing affordable housing in the region and was looking at other options.
Longstock is located just 1.9 miles from Longstock. John Lewis has a cafe there and also owns a farm shop.
“The Church Lane site decision was made with great care.
“There wasn’t a clear majority of local residents in support for the development. This is an important measure and one we have promised to follow given our history and position within the village.
Just 1.9 miles away in Longstock, where John Lewis has a cafe and farm shop, average property prices stood at £1million in 2020, which was an eight per cent rise over the past five years, according to Zoopla.
John Lewis’s plan was something that many young people in the region hoped would result in affordable housing.
The wait for the first step on the housing ladder will continue so long as Leckford’s village continues to oppose the construction.