Enfield Council completes latest major land deal
- Enfield Council announces purchase of 32 acre Stonehill Estate taking control of developable area to 64%;
- Site has potential to deliver 2,200 of new homes and 2,000 high quality jobs by 2021, in a beautiful canal-side environment;
- Phase 1 Willoughby Lane site also given Stage 2 GLA approval as momentum at Meridian Water continues apace;
- Latest land deal further demonstrates Enfield Council’s pioneering approach to regeneration delivery.
Enfield Council has announced another major land acquisition at Meridian Water – the 32 acre Stonehill and Hastingwood sites – taking them a step closer to full control of all developable land for this significant regeneration.
The Stonehill site, in the eastern part of Meridian Water, has the potential to provide 2,200 of new homes, alongside new office and retail space and unlocking 2,000 new jobs for Enfield, all with the backdrop of the beautiful Lea Valley Park and on the doorstep of the River Lea.
GLA approval has now also been given for the first Meridian Water site to come forward – Willoughby Lane. Construction work is due to start in 2018 once a detailed application is submitted by selected development partners Barratt London. The area will deliver 725 new homes alongside new public open spaces, shops and community facilities as well as its own brand new railway station, already funded and being delivered by Network Rail.
By the end of Meridian Water’s 20-year delivery programme, it will have delivered 10,000 new homes, 6,700 new jobs.
Cllr Doug Taylor, Leader of Enfield Council, said: “Enfield Council is continuing to take direct control of this significant regeneration at Meridian Water, buying up the land, overseeing the infrastructure investment and taking an active lead in its delivery. It has always been part of our plans to acquire the Stonehill site and the completion of this deal reaffirms our commitment to deliver a truly special new piece of London that our residents and all Londoners can benefit from.
“Meridian Water will transform this part of the Borough, bringing thousands of new jobs into the area alongside new homes and beautiful public spaces, connected to a new railway station which will open in 2019.
“The Council now owns around two thirds of the developable area at Meridian Water and this latest land deal, coupled with GLA approval for phase 1 marks an exciting time for this important development opportunity and I am thrilled to see it begin to take shape”.
In March 2017, Enfield Council completed the purchase of the 2.1acre VOSA site – a redundant vehicle testing site south of the Stonehill site. The total Meridian Water regeneration area covers 210 acres, but this includes the rail lines, roads, waterways, green belt land and the current Tesco and Ikea stores. The total developable area is 136 acres and the Council now owns 87 acres (64%).
In summer 2016, Enfield Council selected Barratt London, part of the UK’s largest housebuilder, working with SEGRO, one of the UK’s leading owners and developers of high quality workspaces, as selected private development partners. Construction work will begin on the first homes at Willoughby Lane in 2018.