Supermarket giant to build 1,500 homes in plan for 10-acre superstore with 400 parking spaces for shoppers
A SUPERMARKET giant plans to build 1,500 homes around a new 10-acre superstore with 400 parking spaces for shoppers.
Asda is tearing down its store on the sprawling Park Royal industrial estate in west London to make way for a new “town centre”.
The chain will build a new 60,000sqft flagship supermarket on the flattened site.
Up to 1,500 new homes will be built on the site, around a third of which will be billed as “affordable”.
Asda said the newbuild development will be car-free with residents urged to use public transport.
But the new superstore will boast up to 400 parking spaces fitted for EVs.
The new “town centre” will have space for other shops, restaurants and health facilities.
Asda’s current Park Royal superstore will stay open while the new one is built.
The supermarket will submit a planning application for the redevelopment later this year.
Asda’s Ian Lawrence said: “Our venture into mixed-use property re-development marks a significant milestone for the business.
“By working with leading developers like Barratt London, we are able to maximise the full potential of our property portfolio.
“This allows us the opportunity to better serve local communities like Park Royal.
“A new flagship store will be fit for the future while creating windfall sites for housing delivery.”
The move is a first for Asda and would be one of the largest land deals in recent years.
Why are supermarkets building new 'towns'?
MORE and more UK supermarkets and shopping centres are being turned into swish blocks of flats, Harry Goodwin writes.
Many big stores have had their value wiped out by the rise of internet shopping.
Some chains are now opting to tear down flagship stores and replace them with high-end property.
A study by Savills found nearly 24,000 homes could be built on supermarket sites in London alone.
The O2 shopping centre in Camden is being turned into 1,800 homes – at a cost of £1billion.
Huge supermarkets in Fulham and Nine Elms have already been knocked down to make way for housing.
Asda is now branching into house-building after struggling to compete with budget rivals Aldi and Lidl.
But John Lewis and Waitrose have recently scaled back their property ambitions – blaming inflation and local NIMBYs.