Enfield Council has set out a new strategy for its £6bn Meridian Water development, which will see it work with multiple partners rather than a single master developer.
Its cabinet agreed the new direction for the 10,000 home scheme last night, following the news earlier this month that Pacific Century Premium Developments (PCPD) had withdrawn from negotiations to be the council’s sole partner. Enfield terminated its agreement with former development partner Barratt London in October 2017, saying its plans were a “poor deal” for the local area.
Enfield will now formally end the procurement process for a single master developer, and instead the council will take the lead responsibility for setting strategies, working up the masterplan and deciding the optimal phasing plan for delivery.
Three development sites within Meridian Water are now being brought forward. The first site, which has planning consent for 725 homes, will be offered via the GLA’s London Development Panel immediately after the summer. It is located adjacent to the new Meridian Water train station which will open in 2019.
Station link for 2019
The council is also seeking a partner for a second site on which it wants to deliver ground-floor workspace with 200 affordable homes above. This will be detailed in a new outline planning application for the site, and is linked with a £120m bid which the council has made to the Housing Infrastructure Fund to better connect the different parts of the scheme.
Finally, the third site, which is commercial-focused, covers 2-3 acres alongside the North Circular, where the council wants to develop a new employment hub. The sites will be offered on the basis of a development agreement rather than a sale of the land, allowing the council to retain control. Alongside the new strategy, a further land acquisition was approved at 4 Anthony Way.
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Nesil Caliskan, leader of Enfield Council, said: “Going forward we will be in control and we will be the custodians of the place Meridian Water will become; investing council money and resources to ensure that local people are the principle beneficiaries of the new homes and jobs that will be created.
“The cabinet and I are absolutely determined to create a legacy to be proud of in the borough, whilst also delivering a return on the council’s investment, and I look forward to making further announcements as we rapidly secure real benefits from the Meridian Water regeneration.”
London deputy mayor for housing and residential development, James Murray, added: “Meridian Water is one of the most important regeneration projects in London, with the potential to provide thousands of affordable homes and job opportunities for local people. I welcome the new direction Enfield Council has set out for how these benefits will be realised, with direct control and investment by the local authority.”
Since April 2014, the council has acquired 87 acres of land at Meridian Water. It currently owns 64% of all developable land within the red line boundary of the site and has to date committed £157m to land acquisition.