Barratt Homes exits Meridian Water project
by Natalie Vincent Fri 27 October 2017, 2:48 pm
Talks between Enfield Council and developer Barratt to develop the £6 billion Meridian Water regeneration programme next to Lee Valley National Park have ended.
The council terminated the discussions due to contractual disagreements, with Barratt formally withdrawing its tender on 25 October. Barratt had been chosen as preferred bidder at a cabinet meeting in May 2016.
The proposed 85-ha Meridian Water development will comprise 10,000 new homes and open up about 6,700 new jobs. Planning consent for an initial 725 homes at Willoughby Lane has been granted, with the council managing the construction works on-site. The plans include a new rail station at Meridian Water, which is due to open in 2019.
Leader of Enfield Council, Doug Taylor, said: “Meridian Water remains one of the most exciting development opportunities anywhere in London, but we were simply not prepared to sign up to what we considered to be a poor deal for the residents and businesses of Enfield.”
Despite this decision, work on the development is going ahead, with the council securing direct ownership of two thirds of the site through a series of land purchases.
Taylor added: "I am immensely proud of the very real progress we have made and with construction activity already underway it is now starting to become a reality. We will also continue work with partners from across the private sector," promising regular updates on the project over the coming months.