Member Article

Enfield Meridian Water regen plan boosted by £70m industrial and greenbelt acquisition

The London Borough of Enfield has announced it has acquired a 21-acre development site as part of its £6bn Meridian Water master plan.

Enfield Council has said it has paid over £70m for the plot, which includes a long leasehold industrial estate and four acres of greenbelt land, from a client of LaSalle Investment Management.

The development site, which is known as Urban Logistics.London, falls within Enfield and will form a portion of the 20 year plan which will deliver 20,000 new homes along with a new Meridian Water linking the area with Liverpool Street Station and Cambridge in the north.

According to the developer, the sale of the land has placed a restriction on the land which prohibits the future development of large format logistics units and will limit the number of residential dwellings in the area, effectively earmarking the area for primarily industrial uses.

LaSalle was advised by development and asset managers Fairacre Property, which already has a long-standing involvement with the site alongside agents Cushman & Wakefield and Glenny.

Enabling work at the massive new 82-acre site began earlier this year with the first portion of over 700 homes set to be delivered by development partner Barratt London by 2019.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →