Ikea is set to develop a 700-home residential scheme next to its flagship Tottenham store in Enfield, N18, in what will be its first housing development in the UK.
It is the Swedish retail giant’s first real foray into housing anchored by its superstores, and comes a decade after Inter Ikea Group initially planned resi development in the country.
Development of the nine-acre site to the north and west of the shopping centre is expected to see buildings ranging from four to 25 storeys, across three main blocks. The land is owned by Ikea and currently vacant or used for car parking.
Ikea has appointed Corstorphine + Wright architects to design a scheme with Quod advising on planning. It is working to move the car park to make space for the uplift in demand and will also provide an Ikea public plaza. It has a seven-year construction plan and completion is expected in 2028.
The scheme is being led by Ikea Properties Investments, which owns the sites of its major UK superstores.
Ikea made its first attempts in UK housing in 2010, with the acquisition of 13 acres at Sugar House Lane opposite the Olympic Park in East London. It later added to the site and lodged plans for 1,200 homes before the team, then named LandProp, separated and rebranded as Vastint.
Vastint has continued to expand across the UK and Europe. In the last year Ikea’s modular homes joint venture BoKlok has begun partnering with councils in the south to deliver smaller schemes of under 200 homes.
Last year, BoKlok chief executive Jonas Spangenberg told EG the company was exploring initiatives to develop housing using Ikea’s existing £8.2bn estate.
But to date Ikea has stuck to retail through its out-of-town big box sites and, more recently, its high-street offering.
However, with residential developers priced out of the capital and prime locations, many are turning to secondary locations in the outer boroughs, with a number of former retail parks and adjacent car parks tipped for large-scale housing schemes.
An Ikea spokesman said: “Our ambitious growth plans mean we are focusing on all parts of creating a great customer experience, whenever and wherever people need us. This includes investing in our online offer and customer services, rebuilding and adapting existing IKEA stores, and evaluating different locations as part of a new city centre approach.
“Meridian Water is an ambitious and exciting strategic development for new homes and employment in London. We regularly explore opportunities around our sites including, Ikea Tottenham, however we have no confirmed plans at the moment.”
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