When we say Asda, affordable groceries, green branding and a catchy but annoying slogan probably come to mind. So you might be surprised to hear that Asda is launching into property and has its sights set on, erm, a 1,500-home urban village in north west London.
Would you want to live in the Asda village? It sounds pretty dystopian to us, but it could be London’s biggest regeneration project since the 2012 Olympics. The goal is to transform Asda’s existing superstore in Park Royal into a new ‘town centre’.
Money made from the Asda village, described as one of the biggest land deals since the pandemic, will be reinvested back into its stores to help it better compete against Tesco and Sainsbury’s, which are currently ahead of Asda as the top two supermarkets in the country. This is all part of Asda’s ambitious plan to overtake its competitors – a plan which also includes opening 110 new stores across the UK in February.
Plans for Park Royal include a new, bigger Asda Superstore and up to 400 car parking spaces for customers as well as an additional new ‘town centre’ including up to 1,500 new homes (with a third of them ‘affordable’). There would also be premises for other shops created.
The planning application is underway and will be submitted next year. Here are a couple more images of what Asdaville could look like.
‘By working with leading developers like Barratt London, we are able to maximise the full potential of our property portfolio for the first time,’ said Ian Lawrence, head of mixed use developments at Asda. ‘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.’
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