Plans to be submitted later this year
Barratt will partner with Asda to build up to 1,500 new homes in a major mixed-used redevelopment of one of the supermarket chain鈥檚 sites in North-west London.
The pair have today unveiled plans to transform a 10 acre site in Park Royal, which is currently home to an Asda superstore.
If approved, the scheme would see a new 60,000 sq ft Asda store built, with a number of apartments built on a landscaped podium above.
Around 500 of the new homes will be designated as affordable and the majority will be dual aspect.
The residential aspect has been designed to be car free, while 400 parking spaces will be built for Asda customers.
鈥淭his 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,鈥� said Craig Carson, managing director of Barratt West London.
鈥淭he 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.
鈥淲hile 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.鈥�
The proposals, which would allow space for complementary businesses to open new units, is Asda鈥檚 first mixed-use redevelopment of an established store site.
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Ian Lawrence, head of mixed-use developments at Asda, said: 鈥淎sda鈥檚 venture into mixed-sse 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.鈥�
Work on a planning application is underway and is expected to be submitted later this year.
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