Hackney Council is set to buy a large Tesco supermarket site on Morning Lane, E9.
The deal comprises the construction of a new store for Tesco, along with around 325 new homes and a substantial commercial element of around 275,000 sq ft for fashion-related uses.
Cabinet documents from Hackney Council confirm that the development will be pitched to the fashion industry, “not only in terms of retailing but also design, administration, training and even possibly light manufacturing”.
Just a few months ago, Hackney Council included the site within a masterplan for the Hackney Central area, which provided for around 450 homes and 180,000 sq ft of commercial space.
Tesco, however, said that it had no plans to develop the site itself, and was instead reviewing options to find a buyer to enable redevelopment. Spenhill, the regeneration arm of Tesco that recently developed stores in Streatham and Woolwich, among others, has essentially now been wound up.
Around seven years ago, Spenhill and Tesco were turned down by Hackney in their bid to develop the site for a much smaller scheme of around 130 homes.
Philip Glanville, mayor of Hackney, said: “This is a once-in-a-generation opportunity for the council to acquire a site like this. It’s a key development site, and will be snapped up quickly by a housing developer if we decide not to go ahead.
“If that happens, we will lose control over what happens to this large plot of land in the middle of Hackney Central,” he added.
• To send feedback, e-mail paul.wellman@estatesgazette.com or tweet @PaulWellman_EG or @estatesgazette
