Lidl is paving the way for mixed use developments with plans to build 3,000 affordable homes in London.
The German super market chain is best known for wallet-friendly groceries, but has been involved in housing development since 2008. To date, it is credited with having 811 homes built of in the pipeline.
Now, it’s upping the ante. The budget supermarket says its stores have the potential to be part of schemes that could see over 3,000 new homes built over the next three years.
Ed Fowkes, development director at Prosperity Capital Partners, said, “Lidl’s plans to deliver thousands of homes alongside its stores in London is part of a growing trend in the UK towards mixed-use development.
“As land costs continue to rise alongside build costs, it makes sense for developers to intensify their land use and increase the density of developments, while opening up additional economic opportunities on site for both the captive market and the wider area.
“By combining retail uses with residential units, developers can deliver much-needed homes in urban locations without compromising on the retail and commercial spaces which the local community depends on. The trend towards mixed-use development in British towns and cities is only going to increase as local authorities look to ramp up the delivery of high quality homes, while creating job opportunities and spaces for communities to grow and prosper.”
This is good news for local authorities, who are having to become increasingly creative to build new homes. If commercial developers are willing to share some of the burden in order to win planning permission, it could be a win-win situation.
Russell Pedley, director and co-founder at Assael Architecture, said, “Amid a housing crisis, it makes sense for councils and local authorities to encourage retail developers to integrate homes into their projects, keeping the ‘high street’ vibrant. While this trend is likely to continue in the UK, we need to ensure that the quality of housing delivered alongside these retail outlets is top shelf, as well as affordable, and that the use classes are blended appropriately, not simply thrown together.”
PICTURE CREDIT: Aljona83