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Lidl aims to build 3,000 London homes in three years

Lidl will help deliver schemes with the potential to create 3,000 new homes in London over the next three years, the company has announced.

The discount supermarket said it had helped build 335 homes in the UK through new store projects and had a further 476 in the pipeline.

Lidl said it was also planning mixed-use schemes as it increased its presence in the South-east through developments featuring offices, hotels and student accommodation.

The company cited a project for a new store in Richmond with a primary school built above it.

Lidl chief executive Christian Härtnagel said: “We’re also proud that our stores are increasingly helping to pave the way for mixed-use developments.

“To date, our stores have supported the creation of over 800 homes […] and we’re entirely open to exploring opportunities to help facilitate further developments.

“In London alone, for example, there is the potential for Lidl stores to be part of schemes that could see over 3,000 new homes being built over the next three years.”

Ed Fowkes, development director at private equity real estate firm Prosperity Capital Partners, said the move by Lidl was a result of rising land and build costs.

“Lidl’s plan to deliver thousands of homes alongside its stores in London is part of a growing trend in the UK towards mixed-use development,” he said.

“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.”

Lidl also plans to build a 1m sq ft regional distribution centre in Hertfordshire, with its facility forming part of a wider site comprising 5,000 houses, three primary schools and a further 1m sq ft of commercial and retail space.

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