Asda plans affordable housing on first residential project

The firm is the second major retailer to diversify into housing after the John Lewis Partnership (JLP) revealed plans in 2022 to develop up to 10,000 build-to-rent homes.

However question marks have since emerged over the extent of this initial ambition as JLP’s chair Dame Sharon White, who introduced the plan, is leaving the group next year.

Asda has released CGI images of its proposed scheme with blocks of flats above and beside a new 60,000 square foot superstore. 

A planning application is due to be submitted “later this year”, Asda said.

The full scheme is due for completion in 2037, according to a Barratt spokesperson. 

The plans are also expected to include other retail units, restaurants, health and wellness facilities, and public realm space.  

The scheme sits within the Old Oak and Park Royal Development Corporation major regeneration area.

Mr Lawrence suggested that Asda is also looking at other similar schemes.

“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,” he said. 

Craig Carson, managing director of Barratt West London, said the deal is a sign that there is “still land to be unlocked in the capital” and claimed that it is one of the “largest land transactions since 2019”.