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.