Enfield Council announces majority ownership of £6bn Meridian Water site

Enfield Council announces majority ownership of £6bn Meridian Water site

£6bn Meridian Water

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.

END

A PIONEERING APPROACH TO REGENERATION

Enfield Council’s role at Meridian Water, March 2017

"In some ways it would have been nice to be able to sit back, wait for the private sector to swoop in and then just rely on our role as planning authority to influence the nature of the scheme.  But that was never going to happen at Meridian Water."

Peter George, Enfield Council’s Assistant Director for Regeneration and Planning, explains why the Council’s role at Meridian Water provides a model for others to follow.

We saw here a site with enormous potential – next door to the amazing Lee Valley Regional Park, with water flowing through it, fantastic road connections and on the West Anglia Main Line.  However the area was in multiple site ownerships, with low land values and a requirement for new infrastructure.

At a time when Enfield and London are in clear need of new homes and job opportunities, it would have been easy to put this in the ‘too difficult’ box and accept defeat.  But we didn’t do that.  Instead we asked ourselves what it would take to make this happen and we have stayed focussed on that agenda ever since.

 

Take controlled risk

The first thing we have done is accept that we will take risk to unlock regeneration.  We are acting more like the private sector in taking decisions that too often public bodies shy away from.  And we are putting money on the table, aware that investment now will generate returns later and ensure we shape the regeneration from the earliest stages.

Secure infrastructure investment

We have organised the delivery of the new rail station on the development site itself, relocated from the current Angel Road station.  We have been actively involved in securing this outcome and took on the design of the station itself, working with Network Rail, to ensure it perfectly met the needs of the regeneration programme and Masterplan design.  The station will open in 2019 connecting to Stratford London in 17 minutes, London City Airport in 22 minutes, London Liverpool Street in 24 minutes and Heathrow in 43 minutes.

Have a vision

Meridian Water will be a truly unique proposition within London, but what does this mean and what are the key ingredients?  We have commissioned a Meridian Water Placebook which will clearly articulate what will define Meridian Water in the years to come.  We have also appointed our own design team to prepare a Masterplan for the entire site and to prepare the detailed design for Phase one, the first 725 homes around the new station.  We have undertaken the site preparation works ourselves in advance of handing the site over to our development partners later in 2017. 

Buy land

We have been assembling the site ourselves for more than two years, completing multiple site acquisitions, totalling 23 hectares and we now control almost half the developable area.  This provides project certainty, enables the scheme to be delivered far faster than relying on a CPO and purchasing land early ensures that the Council is maximising returns ahead of selling land on to Barratt London on a phased basis.

Keep control 

We are delighted to have attracted world class development partners in Barratt London, part of the UK’s largest homes builder and SEGRO, the specialist provider of high quality workspaces.  But we remain in control of the overall regeneration. Specifically, the Council will be taking the lead on the strategic vision, masterplanning, speed of delivery, much of the infrastructure coordination as well as owning all of the retail and meanwhile uses.  

Develop strong meanwhile uses 

We know that Meridian Water will take time to deliver.  But we have the land and the opportunity now.  So we have developed something that we think will be very special in the form of ‘Meridian Works’.  Meridian Works will be a series of places and spaces tailored specifically towards small businesses, start-ups and freelancers in a major boost to the ‘maker’ economy of London and helping signal the new opportunities for major occupiers at Meridian Water. The first phase is the creation of Europe’s largest open workshop for makers, creators and artists, which together with a rooftop bar and restaurant overlooking the canal will create a genuine destination, opening in early 2018.

Be innovative 

The Council has long had an ambition to provide sustainable energy and at Meridian Water we had a blank sheet of paper and potential customer base.  So we have formed our own energy company, 100% owned by Enfield Council, called energetik which will supply heating and hot water to all 10,000 homes and more beyond.  We were the first UK local authority to obtain a back to back loan from the European Investment Bank and London Energy Efficiency Fund and we are currently investing £58 million to set this up.  energetik will help reduce carbon emissions as well make money for the Council.

Don’t give up!

It has taken an enormous amount of work to finally reach the delivery stage of Meridian Water, but here we are.  In the coming months we will sign the Development Agreement, we will see the station construction works underway and we will start work on Meridian Works.  In two years from now we will have the station open, over 700 homes under construction and many crafts-people and businesses operating from the site.

 

I passionately believe the approach Enfield Council is taking to be pioneering, in the finest traditions of the public sector and I equally believe it provides a model for others to follow.  

Our residents and ratepayers will be the main beneficiaries and we also expect to make a direct financial return on our investment.  It is a true win-win and I am excited for the future.

 

Enfield Council completes next land acquisition

Enfield Council completes next land acquisition at Meridian Water to control nearly 50% of developable area

  • Enfield Council completes purchase of the 2.1 acre VOSA site as the Council continues its pioneering approach to deliver regeneration.

  • New Meridian Water brand, website, images, fly-through and video unveiled (www.meridianwater.co.uk) as works continue on site.

Enfield Council today confirmed the completion of their next land acquisition at Meridian Water with the purchase of the 2.1 acre VOSA site, giving the Council control of almost half the developable area.

 

Cllr Doug Taylor, Leader of Enfield Council, said:

“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.

“All of this is only made possible by the direct and active involvement of Enfield Council.  We are buying land now, rather than waiting for values to rise later, and I commend our team on completing yet another site purchase as we now own almost half the site.

“We are also overseeing the infrastructure investment, creating a comprehensive programme of meanwhile uses through Meridian Works, delivering low carbon heating and hot water through our own municipal energy company energetik and we will be directing the retail strategy ourselves. 

“Enfield Council is determined to secure maximum benefits for our residents and ratepayers as a result of Meridian Water and our pioneering approach is, I believe, a model for others to follow.”

 

The redundant vehicle testing site, known as VOSA, was acquired from the Secretary of State for Communities and Local Government, acting for the Driver and Vehicle Standards Agency.

Previous site acquisitions include the 18 acre Willoughby Lane site, purchased in March 2015, where construction enabling are already underway and where the first 725 homes will be built alongside the new railway station.

The total Meridian Water regeneration area covers 210 acres, but this includes the rail lines, roads, waterways and the current Tesco and Ikea stores.  The total developable area is 118 acres and the Council now owns 55 acres (47%).

Enfield Council has also selected private development partners – Barratt London, part of the UK’s largest homes builder, working with SEGRO, one of the UK’s leading owners and developers of high quality workspaces.

 

 

 

Mayor of London visits site

Mayor of London visits site

Construction works begin on Enfield Council’s £6bn Meridian Water regeneration

  • Sadiq Khan visits Meridian Water as construction enabling works begin on the first 725 new homes around the new railway station.
  • Network Rail construction works to build an additional track on the West Anglia main line also imminent, with the new railway station at Meridian Water planned to open in 2019.
  • £6 billion scheme will deliver 10,000 new homes and 6,700 new jobs for North London, led and controlled by Enfield Council.
  • New images published of the Meridian Water Masterplan.

Mayor of London Sadiq Khan today (Thursday 26 January) visited the Meridian Water regeneration site as construction enabling works formally started on the first 725 new homes and Enfield Council announced a major programme of activity for its flagship £6bn regeneration scheme.

 

Cllr Doug Taylor, Leader of Enfield Council, said:

 “Today is the day that Meridian Water moves firmly from vision to reality.  Many people said ‘it couldn’t be done’ but today we have started works to prepare the site for the first 725 new homes, we have the new railway station funded and being delivered and we have the UK’s largest homes builder as our selected Development Partner.

 “Meridian Water is a dedicated Housing Zone and will deliver enormous benefits for local people, providing much needed new homes, thousands of new jobs – supported by dedicated training programmes to help local people into employment – and a fantastic destination for North London.

 “Over the coming months we will be making a series of further announcements as the project gains momentum and I was thrilled to welcome the Mayor of London to kick-off this transformation.”

 

The Mayor of London, Sadiq Khan, said:

“Meridian Water has the potential for 10,000 new homes and 6,700 new jobs around a new train station with hugely improved links to central London.

“We know that fixing the housing crisis will be a marathon, not a sprint, but that means starting now and being ambitious. I look forward to seeing work getting underway to support the delivery of homes, jobs, transport infrastructure and open spaces in this part of the capital.”

The role of Enfield Council in pioneering Meridian Water is also very different from the usual approach of a local authority when managing major regeneration projects.

Speaking about this, this Cllr Doug Taylor, Leader of Enfield Council, said:

 “Enfield Council is doing regeneration differently at Meridian Water, taking direct control to ensure the maximum benefits for residents and ratepayers.

 “It is a pioneering approach for the public sector and unlike that for any other London regeneration site, with Enfield Council buying land, preparing designs, delivering Meridian Works, overseeing infrastructure investment, delivering low carbon heating and hot water and directing the retail strategy.

 “We are absolutely committed to maximising the potential of Meridian Water and creating a beautiful new part of London, making full use of the water which runs through the site, its proximity to the Lee Valley Regional Park and the excellent transport connections by road and rail.”

 

David Thomas, Chief Executive of Barratt Developments PLC, Enfield Council’s selected Development Partner for Meridian Water, said:

 “This is one of London’s most important regeneration projects that will benefit the Capital for generations. London needs new homes and with 10,000 in total being delivered it will help to put Meridian Water and the wider Enfield area on the map. We’re looking forward to starting work on delivering the first phase of these homes early next year.”

During the visit of the Mayor of London, Enfield Council also confirmed the following Meridian Water activity programme

  • January 2017 – Meridian Angel Primary School fully operating from its new buildings.
  • January 2017 – Construction enabling works start on Meridian Water’s Phase One, delivering 725 new homes, shops and public spaces around the new railway station.
  • Spring 2017 – Development Agreement signed between Enfield Council and Barratt London, the selected Development Partner.
  • September 2017 – Enfield Council begin construction of the first phase of Meridian Works, a new premises for Building Bloqs and ACAVA (the Association for Cultural Advancement through Visual Art) creating the largest open workshop in Europe, supporting 300 jobs.
  • Early 2018 – Barratt London on-site constructing Phase One.
  • Early 2018 – Building Bloqs @ Meridian Works and ACAVA @ Meridian Works opens.
  • 2019 – The new Station at Meridian Water is planned to open, triggering the delivery of the first new homes.

Enfield Council creates thousands of homes and jobs

Today (Friday 27 May) Enfield Council has announced it will be creating 16,000 jobs and 10,000 homes on its flagship £6 billion development Meridian Water.

The Council has appointed Barratt London as the master developer for the project, who will work with SEGRO as a development partner on the urban logistics element.

The project will provide 10,000 homes, 6,000 permanent jobs, 10,000 jobs in the construction industry, and supporting infrastructure including a railway station, shops and other community facilities in a beautiful waterfront setting.

As one of the biggest developments in the United Kingdom and one of the largest housing developments in London it will also play a major role in helping to ease the housing crisis in the capital.

Meridian Water has already been given housing zone status by the Government meaning it will be easier and quicker to provide new housing on the site than would be normal.

But the scheme will also see significant investment in the area’s community facilities and transport links which will improve connectivity between north London and the Lee Valley corridor and help to add an estimated £3 billion to the UK economy by 2036 by stimulating growth elsewhere in the region.

Enfield Council’s Cabinet Member for Housing & Housing Regeneration, Cllr Ahmet Oykener, said: “It is incredibly exciting that we have appointed Barratt London & SEGRO as their development partner to make Meridian Water a reality.

“Now we can start getting boots on the ground and proceed with this transformational project for Edmonton and the wider area and create a truly world class development which will improve the quality of life for tens of thousands of people.

“Meridian Water will play a huge part in helping to ease the housing crisis in London and will provide fantastic quality accommodation to thousands of families. It is a truly huge project which demonstrates Enfield Council’s commitment to improving the quality of life for its residents.”
Enfield Council’s Cabinet Member for Economic Regeneration & Business, Cllr Alan Sitkin, said: “Meridian Water will give an enormous boost to the construction industry both in London and the United Kingdom, creating thousands of specialist jobs as we create a legacy of opportunity, investment and employment in London.

“Meridian Water will supply Enfield and further afield with the jobs, training and opportunities to lift some of our most deprived communities out of poverty by providing good quality employment opportunities in the very heart of their communities.

“I’m delighted we have appointed Barratt London & SEGRO to deliver this exciting project given their strong track record of delivering major regeneration schemes in the UK.

“The growth and prosperity Meridian Water will create will give our residents, some of whom live in the most deprived parts of London, an unparalleled opportunity to benefit from the jobs and training opportunities we will be creating.

“Our challenge is to make sure that both our existing communities and future generations of Enfield residents benefit from this once in a lifetime scheme to transform North London economically.”
The formal appointment of Barratt London & SEGRO as their development partner, is subject to caveats around Enfield Council’s call in process and the Alcatel period that must be observed before the Council can enter into contracts with the winning developer.

The construction jobs will be provided over the 20 year lifespan of the project. Enfield Council is committed to paying the London Living Wage and providing good quality jobs in the borough.

Alastair Baird, Barratt London’s Regional Managing Director said: “Barratt London and our development partners SEGRO are delighted to have been selected by LB Enfield as their preferred development partners for one of the most exciting regeneration opportunities in London.

“We look forward to collaborating with the Council in the coming months and years to ensure that we deliver the right mix of housing, infrastructure, jobs and public services to create a sustainable new community that will benefit existing and future residents of the area.

“Our combined project team has an unrivalled pool of experience in delivering complex mixed-use regeneration projects that deliver both jobs and much needed new housing.”
Alan Holland, SEGRO Greater London Business Unit Director said: “Being selected as the development partners with Barratt London for the regeneration of Meridian Water is great news.

“We have a long standing relationship with the borough with a number of industrial schemes already up and running, bringing real jobs to Enfield and the wider region.

“We have a proven track record in delivering successful places for business to thrive, creating employment opportunities and helping attract inward investment to the area helping to create a sustainable community alongside the residential offering.”