Housebuilder Barratt, together with L&Q, has acquired an 8.5-acre site in Fulham from supermarket giant Sainsbury’s.
The Fulham Wharf site on the north bank of the Thames has a gross development value of £420m with planning permission for 463 riverside flats and a new Sainsbury’s supermarket.
Purchased by Sainsbury’s in 2009, the site currently houses a supermarket, car park and derelict wharf buildings.
Barratt’s plans for the redevelopment include restaurants, cafés, bars, a crèche, a gym, landscaped gardens, a riverside walk and the use of the jetty to create an ecological area for riverside wildlife.
The housebuilder will deliver the development in two phases. The first will include the construction of the 101,127 sq ft supermarket and 267 flats, 52 of which will be shared ownership.
The residential blocks wrap around the new supermarket and will range in height from two to 17 storeys.
Phase two will see the existing superstore demolished and in its place the construction of the remaining 196 units, including 14 social rented homes.
The scheme has been designed by Lifschutz Davidson Sandilands and construction is scheduled to start this month.
It is the third major joint venture between Barratt and L&Q in the capital following deals at the Ashburton regeneration project next to Arsenal’s Emirates stadium, N7, and the 27 Alie Street project on the eastern edge of the City.
Barratt London regional managing director Alastair Baird said: “We are delighted to have secured this high-profile project on the west London waterfront. Barratt has a strong track record of delivering complex London schemes including Dalston Junction and Canada Water and this gave us a strong competitive advantage.
“Our London portfolio is expanding fast – we now have over 3,000 units under construction across the capital in 17 boroughs, providing homes ranging in price from £120,000 to £3.5m.”
Neil Sachdev, Sainsbury’s property director, said: “After two years of planning, we are thrilled to be teaming up with Barratt London to finally bring forward the redevelopment of this area. We always aim to play an important role in the local community and are looking forward to opening up this part of the Thames for the benefit of both our customers and neighbours. This will provide a new shopping and living experience unique to this part of London.”
CBRE advised Sainsbury’s; Strutt & Parker acted for Barratts at Fulham Wharf.
jack.sidders@estatesgazette.com
