Dev Secs agrees deal to unlock stalled London scheme

Architect Sheppard Robson is designing a scaled down version of its consented one million sq ft retail-led scheme on London’s Edgware Rd following a new agreement between Development Securities and supermarket Morrisons.

Sheppard Robson won planning for 399 Edgware Road, a £150m project on the site of the former Oriental City retail destination in Colindale, back in 2006.

Development Securities said today this long-delayed scheme is “not deliverable in the current economic climate” and has asked the architect to produce a new scheme to submit to Brent Council which will be around half the size of the previous project.

The developer has signed an agreement with Morrisons to deliver an 80,000 sq ft food store, which will anchor a wider development boasting Oriental and Far Eastern retail including a food court, restaurant and specialist Oriental grocers, and up to 250 residential apartments including affordable housing. 

Matthew Weiner, executive director at Development Securities, said: “The deal with Morrisons is a significant step forward in being able to regenerate this important site on the Edgware Road.  Our original scheme, which already permits food retailing, was stalled by the recession.  What we are proposing now will give the site a new lease of life and, importantly, although smaller, is deliverable with the inclusion of the Morrisons.”

Richard Haynes, development executive at Morrisons, added:”We are happy to be building on the recent success of our Littlehampton scheme and agreeing another deal with Development Securities.  We are actively expanding across London and the South East and have a strong appetite to do business.”

Public consultation on the revised plans will begin in the summer in advance of a planning application to Brent Council later this year.  Subject to planning permission, redevelopment of the site could start in 2013 and be complete by 2014.