May 17, 2024 Newsteer Staff
17th May 2024

Newsteer advises Asda on Park Royal redevelopment with Barratt London, proposing new town centre and 1,500 homes

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Newsteer had as acted on behalf of Asda on exciting plans for the redevelopment of their Park Royal site in North West London, in partnership with Barratt London.

This 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. Proposals includes plans for a new town centre at the heart of the Park Royal community and a new 60,000 sq. ft flagship Asda Superstore. The proposal, subject to planning approval, would also deliver up to c.1,500 new homes to the local community, a significant number, c.500, being affordable.

With coverage in the national and property press this week, Ross shared:

“Retailers such as Asda, Park Royal provide great opportunities to utilise brownfield sites and deliver much needed housing to the capital. For developers, what really grabs their appetite is that some of these supermarkets are in great locations. In London there are not many 1,000+ unit opportunities. That is the real draw for them.”

Newsteer is currently advising on similar opportunities with the ability to deliver c.12,000 homes. The key to unlocking these sites is protecting and enhancing the retail offer whilst balancing the viability.

Get in contact with Ross Bettridge  to find out more:

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