Asda unveils plans for significant mixed-use redevelopment at Park Royal
Asda is partnering with Barratt London on a proposal for a mixed-use redevelopment of its ten-acre site in Park Royal which is home to an Asda Superstore.
With work on the planning application currently underway, the proposal will be submitted to the relevant bodies later this year.
The plans for the brownfield site include creating a new town centre for the local community at the heart of the Old Oak and Park Royal Development Corporation major regeneration area.
There will also be space for complementary businesses to open new retail units, restaurants, and health and wellness facilities.
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.”
Asda recently announced that it has now opened 479 Asda Express stores as part of its convenience expansion. Th retailer is now on track to have 500 Asda Express stores by the end of this year as new standalone sites open throughout the UK.
