Ballymore and Sainsbury’s have agreed a strategic partnership that will enable the development of an 18 acre site at Ladbroke Grove in the Royal Borough of Kensington and Chelsea (RBKC). The site is part of RBKC’s Kensal Canalside Opportunity Area. The new Ballymore and Sainsbury’s partnership will be split 60/40 with Ballymore holding the larger share.
The Partnership’s ambitious emerging masterplan for the project has capacity for up to 2,800 homes, equal to more than half of the entire opportunity area’s target. It will also create a major mixed-use canal side town centre, as well as civic spaces, restoration of an historic canal basin, and a generous mix of retail, leisure, cultural, community, small business workspace and educational uses.
The site is one of the last major brownfield opportunities to be brought forward in the Royal Borough of Kensington and Chelsea and marks a significant opportunity for the area and for London. As part of this project, a new 130,000 sq ft Sainsbury’s store will provide a fresh, modern approach to trading with increased capacity for home delivery services. The agreement will ensure continuity of trading within the existing store until the day the new store opens.
Sean Mulryan, Chairman and Chief Executive of Ballymore, said: “Partnerships like this one show the type of innovative approach needed to tackle London’s housing shortage. We are pleased to be a step closer to submitting an application and realising our ambitions of a mixed-use scheme that will transform the area. We’ve commenced early consultation with local stakeholders and look forward to hearing directly from local people how they envisage the future site can best suit the needs of the local community”.
Patrick Dunne, Sainsbury’s Property Director, said: “This agreement, which is the result of many years of hard work and commitment across our businesses, represents a momentous opportunity to deliver an exciting new vision for Ladbroke Grove. We have a proud history of serving the local community and are committed to engaging with our customers and residents throughout this project, which will play a substantial role in the revitalisation of the area.”