Morrisons wants to build flats on top of its Chalk Farm store as a new way to make profit.
With the German discounters Lidl and Aldi eating into the Bradford based grocers profits it hopes to sell 17 storeys of ‘Airspace’ to developers above its Chalk Farm store.
Morrisons is joining rival supermarkets in the housing business with plans to build 700 homes as part of the redevelopment of its Camden store in north London.
Morrisons held a meeting for Camden residents last week where it presented early plans for a development which would include flats and houses, public squares, other shops and offices on the site off Chalk Farm Road.
People buying into new builds are increasingly being exploited by the managing agents who operate the buildings. As there is no regulation in leasehold, new developments are rife with unfair service charges and hidden costs – Morrisons joins supermarket housing game with Camden plan.