Asda has announced plans to open a brand-new superstore and build up to 1,500 new homes as part of a new redevelopment scheme in the capital.

The supermarket retailer has partnered with property developer Barrat London to re-develop a ten-acre site in north-west London, which is currently home to its Park Royal superstore.

The proposal, which is subject to planning approval, forms part of Asda’s plans to create a new town centre for the local community.

Asda said its plans would also enable businesses such as restaurants and wellness facilities to move into retail units on the site.

The company added that the mixed-use redevelopment of an established store is a first for the company and claims it represents one of the largest land deals of the last couple of years.

While the new complex is under development, Asda said that the existing Park Royal Superstore would remain fully open.

Asda added that the plans had been drawn up with sustainability in mind, explaining that the use of public transport will be encouraged, while a parking space for 600 cars will include EV spots.

“Asda’s venture into mixed-use property re-development marks a significant milestone for the business,” said Ian Lawrence, head of mixed-use developments at Asda.

He went on to say that the company would unlock further opportunities to release value from Asda’s extensive property portfolio, adding that this would ultimately be reinvested back into the business to fund other initiatives and support its long-term growth ambition to become the UK’s second largest supermarket chain.

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