The proposed site would host the supermarket giant's flagship store and provide 500 affordable homes.
Asda has announced new plans for a massive flagship store – and a development project which would create 1,500 new homes in London.
North-west London’s Park Royal, nearby Acton, could be a new site for the supermarket giant’s flagship store and provide 500 affordable homes.
The proposals have not been submitted yet for planning permissions, but the apartments would ‘utilise a landscaped podium’ over the new superstore.
Park Royal, nearby Old Oak Common, is intended to become the UK’s largest regeneration scheme – referred to as the potential ‘Canary Wharf of West London’.
The proposed superstore would be a sprawling 60,000 square feet and have 400 customer parking spaces.
Ian Lawrence, head of mixed-use developments at Asda said: ‘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, said: ‘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.’
Affordable housing will be welcomed as well – house prices in the Park Royal average around £556,416, according to Right Move.
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Asda’s plan comes on the tails of John Lewis, who submitted a planning application for housing projects in west and south London.
They pledged to build 10,000 homes to help generate 40% of profits by 2030.
Nina Bhatia, strategy director at the John Lewis Partnership, said: ‘At a time when there is a housing crisis and people want homes to buy or rent we are making a huge contribution.
‘John Lewis is offering quality service and security in a high quality home.’
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