Enfield LBC has revealed it will not seek a single master-developer for its £6bn Meridian Water project and has taken overall responsibility for the 10,000-home scheme itself.
The local authority described its decision, which remains subject to a potential call-in from the government, as a “watershed moment” that would put the scheme “back on track”.
LGC’s sister title Construction News reports that Enfield LBC terminated a Barratt / Segro joint venture as the preferred master-developer bidder for the project in October 2017, branding the housebuilder’s terms as “unacceptable”.
Minutes from a council meeting the following month revealed the local authority had approached reserve bidder Pacific Century Premium Developments (PCPD) in an effort to keep the scheme on track.
Enfield leader Nesil Caliskan said the role being adopted by the council in the project’s delivery was “genuinely new for a local authority”.
“We will be in control and we will be the custodians of the place Meridian Water will become,” she said. “We will select development and other partners to work with the council to bring forward specific parts of the regeneration, whether that is for housing delivery, new employment spaces or [other] uses, and we will hold the vision for Meridian Water and oversee its delivery.”
Enfield has announced that it will now seek development partners for the site’s first two housing sites – comprising nearly 1,000 homes – through the GLA’s London Development Panel procurement tool.
The council said it was also seeking a development partner for the first major employment site on the scheme and that it was bidding for £120m from the Housing Infrastructure Fund.
Neighbouring Haringey LBC cancelled its £2bn regeneration deal with Lendlease last week, claiming its agreement with the developer did not provide the answer to the “challenges faced by the council”.