by Kim Pidgeon | May 15, 2024 | News
The supermarket chain will use the land for both a new store and housing…
Asda is aiming to transform the land of its Park Royal store in north west London into a new mixed-use development.
The retailer is partnering with property developer Barratt London on the redevelopment of the brownfield site, which is currently home to its Park Royal superstore.
The plans, which Asda have unveiled for the ten-acre plot, will feature a new 60,000 square foot flagship Asda Superstore and up to 400 car parking spaces for customers. In addition, 1500 new homes are planned, 500 of which will be provided as affordable.
A large number of the apartments will utilise a landscaped podium above the new store.
The proposal, which is subject to planning approval, includes creating a new town centre for the local community, at the heart of the Old Oak and Park Royal Development Corporation major regeneration area.
The use of public transport will be encouraged at the proposed car free residential development, while the Asda car park will include EV parking spaces.
This mixed-use redevelopment of an established store site is a first for Asda and represents one of the largest land deals of the last couple of years.
The planned building work would allow for Asda’s existing Park Royal Superstore to remain open whilst work is carried out on the new store development.
Ian Lawrence, head of mixed-use developments at Asda, said: “Asda’s venture into mixed-use property redevelopment 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.”
Work on the planning application is already underway and will be submitted later this year to the relevant bodies.
Craig Carson, managing director of Barratt West London, comments: “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 market’s 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. 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, who have worked with other major retailers on similar redevelopment deals in the past, are acting as advisors to Asda throughout the process.
Ross Bettridge, Newsteer director, said: “Retailers such as Asda at Park Royal provide great opportunities to utilise brownfield sites and deliver much needed housing for people living in the capital.
“At Newsteer, we are actively advising on similar opportunities with the potential to deliver circa 12,000 homes. The key to unlocking these sites is about protecting and enhancing the retail offer while balancing the viability.”
Asda recently announced it has now opened 479 Asda Express stores, as part of its rapid convenience expansion, enabling the retailer to reach the landmark of 1,000 UK sites for the first time in its 59-year history.
by Kim Pidgeon | Oct 29, 2019 | News
G15 housing association Peabody and property group Lendlease have formed a 50:50 joint venture for the c.£8bn development at Thamesmead Waterfront in south-east London.
The two organisations will work together on the planning and delivery of the scheme, which will deliver a minimum of 11,500 homes. The project will contribute to the continuing economic regeneration of east London and the Thames Estuary and aims to revitalise the existing Thamesmead town centre along with creating many new homes.
Currently much of the site is undeveloped and underpopulated. It includes 2.5km of river frontage, as well as an abundance of green space and two lakes.
Key to the project is the plan for a new cross-river extension of the Docklands Light Railway to Thamesmead. Improving transport links in the area is said to be critical in unlocking the full ambition of the scheme and to enable the 250-acre development to achieve its full potential.
Peabody CEO Brendan Sarsfield said: “Thamesmead Waterfront represents a historic opportunity to transform an isolated and under-utilised riverside location in London.
“A new DLR crossing from east London would allow this long-term partnership to create a new waterfront district with thousands of new affordable homes and a new leisure, cultural and commercial offer for the town, for London, and for the wider Thames Estuary.
“This would unlock huge benefits for existing and new communities, boosting the economy and providing huge opportunities for London and the UK.”
Neil Martin, chief executive at Lendlease, Europe, added: “Improving transport links is a vital part of the long-term regeneration of the area, as it will bring those new homes within reach of the heart of London and help us deliver one of the most exciting new places to live in the capital.”
This is the single largest development in Peabody’s 150-year history. The Waterfront joint venture is part of Peabody’s long-term regeneration of Thamesmead, a town in south-east London which is the same size as central London. The area measures around 760 hectares, with Peabody owning around 65% of the land.
by Kim Pidgeon | Aug 9, 2019 | News
Affordable housing provider Torus has been picked to develop Liverpool FC’s Melwood training ground site.
The housing group currently has 1,600 homes in the West Derby area, where the ground is situated, and manages around 40,000 social homes across the north west.
In 2017, LFC secured planning consent for a proposed redevelopment of the club’s existing training ground at Melwood, as part of plans to invest in a new training facility for the first team and academy sides at Kirkby.
Throughout the tender process, Torus was identified as the best socially responsible housing developer to take over the Melwood site.
Work on the new training ground at Kirkby started in summer 2018 and is expected to be completed in summer 2020. The first team will start the 2020-21 season from their new home in Kirkby.
Andy Hughes, executive vice president, operations and finance at Liverpool FC, said: “Today marks another significant milestone in this hugely important and ambitious project.
“It is with a heavy heart that we announce the sale of the Melwood site having played such a significant role in the club’s history. But the site is limited in terms of space and is unable to accommodate the club’s ambitions for a new first-class combined training facility.
“It’s over two years since we started this journey and we’d like to thank everyone who has been involved, particularly local residents in West Derby for their feedback and patience during this tender process.
“All funds from the sale of the Melwood site will be reinvested back into the first-team squad and the state-of-the-art training centre at the new Kirkby site.”
Torus will continue to consult with the local community as it develops its plans for the Melwood site.
Chris Bowen, managing director of Torus Developments, said: “With more than 1,600 homes in the area, we’re already a long-standing part of the West Derby community, so being selected to develop this site at the heart of the neighbourhood means a great deal to us.
“Consultation with local residents is very important to us and we look forward to meeting with the community in due course. We will also be working closely with LFC to ensure the legacy of this incredibly historical site is a theme throughout.
“Our plans are still at an early stage but will be driven by providing quality affordable homes that address local needs, including specialist housing provision where older people and those with additional care needs can lead sociable, fulfilling and independent lives.”
