John Lewis’ ambitions to open up a store in Brighton have officially been put on hold after it put the property it had earmarked up for sale for £31 million.
The department store chain first bought the site, located on the corner of Queens Road and North Street and currently let to Boots, two years ago for around £20 million.
The retailer had plans to take over once Boots’ lease ended and to demolish the building to create a new flagship store there.
However, last month John Lewis binned those plans due to the “extent of demolition and rebuilding required” to do so.
“We are disappointed to announce that we have decided not to progress our plans to open a John Lewis shop on North Street in Brighton,” a John Lewis spokeswoman said at the time.
“We acquired the site positive that we could build a John Lewis shop, but having explored all options, we cannot deliver a shop on this site with the extent of demolition and rebuilding required.”
In addition, Boots has since renewed its lease until 2033, with 11 years until the next break.
The 77,647sq ft property is now on the market through Cushman & Wakefield for £31 million.
It is not yet known if John Lewis will explore other options in Brighton as yet, especially with the possibility of Churchill Square shopping centre undergoing a major renovation and extension has part of the £450m Waterfront project aimed at transforming the city centre.
In March, John Lewis managing director Paula Nickolds confirmed the retailer would open fewer stores over the coming years compared to usual expansion rate in previous years.
New stores in Oxford, Cheltanham and Westfield White City in west London are still on the cards.
The retailer also recently unveiled details about the significant revamp of its Edinburgh store at St James Centre.