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Demonstrating our expertise in securing planning approvals on complex brownfield sites, in August 2019 we were delighted to secure planning consent at Cheshunt Lakeside in Cheshunt, Hertfordshire. Part of the 30-acre brownfield site used to be Tesco’s headquarters and it is our largest ever mixed-use development.
We are the lead developer on the broader masterplan, which will create a new ‘urban village’, with 1,725 homes, 204,514sqft of commercial space and provision for a new primary school. Of these, we own and control 1,253 residential plots and 52,797sqft of commercial and educational space. The estimated gross development value of the 30-acre site is £620m, with £429m of this representing the plots we control within our joint venture.
Cheshunt Lakeside will sit in eight acres of landscaped grounds and will include a public square, shops, cafés and improved transport links. We estimate the completed site will create 1,000 new jobs. In addition, 250 jobs and 30 apprenticeships will be created during construction.
Planning permission took three years of close consultation with the local councils and community. We were able to agree promptly the terms of the Section 106 agreement, a clear indicator of our success in working with local councils on complex sites.
We are eager to start construction and transform this former industrial site into a thriving residential and business community. In October 2019, we made the first reserved matters application to build 195 homes.