Asda unveils plan for London mixed-use development

13th May 2024 | Jack Oliver

Asda has unveiled plans to create a mixed-use redevelopment of its ten acre Park Royal site in North West London.

The supermarket retailer has partnered with property developer Barratt London to redevelop the brownfield site, which is currently home to its Park Royal store.

Under the proposals, which are subject to planning permission, a new town centre will be created, as well as a 60,000 sq ft Asda superstore with a 400-space car park.

In addition, around 1,500 homes are planned to be built. A large number of the apartments will utilise a landscaped podium above the new superstore.

The mixed-use redevelopment of an existing store site is a first for Asda, which said the land deal is one of the largest of the last couple of years.

The plans are also set to enable complementary businesses associated with the new town centre to open retail units, restaurants, health and wellness facilities, and high-quality public realm space.  

Ian Lawrence, head of mixed-use developments at Asda, said: “Asda’s 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 for the first time.”

“This allows us the opportunity to better serve local communities like Park Royal, with a new flagship store fit for the future, whilst creating windfall sites for housing delivery. We are also unlocking further opportunities to release value from our extensive property portfolio, which can be reinvested back into the business to fund other initiatives and support our long-term growth ambition to become the UK’s second largest supermarket chain.”  

Craig Carson, managing director of Barratt West London, added: “We are proud to be partnering with Asda on their first mixed-use development. At Barratt London, we have a strong track record in both rejuvenating brownfield sites and delivering new homes in the Borough of Ealing, so it’s a partnership and site that makes perfect sense for us.

“This transaction is a sign that there is still land to be unlocked in the capital and reflects one of the markets largest land transactions since 2019. The redevelopment of Park Royal will have a huge impact on the area, with the new town centre unlocking new commercial opportunities for local businesses and providing a new hub for the local community. While the proposed delivery of 1,500 new homes will play a vital part in the Old Oak and Park Royal regeneration plans and will help to unlock much needed new and affordable homes in Ealing.”

Newsteer Real Estate has been appointed to advise Asda throughout the process.

Asda recently announced it has now opened 479 Asda Express stores, as part of its rapid convenience rollout. The retailer is aiming to reach the landmark of 1,000 UK sites for the first time in its 59-year history.


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