Lidl is reportedly planning to lead the development of more than 3,000 homes and a primary school in London in a bid to secure planning permission for a number of new stores in the area.
The German retailer has toyed with developments involving housing since 2008, but has so far built just 335 homes. It now wants to increase its involvement in mixed-use schemes to include offices, hotels, student accommodation and flats, reports the Guardian.
The German discounter reportedly wants to open at least 50 stores a year across the UK and also aims to relocate to larger stores.
Property experts said Lidl’s plans were likely to be fuelled by the difficulties in gaining planning permission for new stores in London at a time when existing retailers are struggling to make ends meet.
Housing Development By Supermarkets
The Guardian reported that Lidl’s home-building spree echoes a technique already widely adopted by the mainstream supermarkets, particularly Tesco and Sainsbury’s.
Tesco built hundreds of homes above its stores across London, while Sainsbury’s was part of a joint scheme with Barratt Homes involving 700 homes in south-west London, and recently won permission for a £200 million project in east London, involving 683 homes.
Morrisons has also entered the game, winning permission late last year for a plan to build nearly 600 homes as part of the redevelopment of its Camden store in north London.
© 2018 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition.