Broxbourne Borough Council and Hertfordshire County Council have signed a development agreement with Sovereign Centros and Peveril Securities for a mixed use retail and leisure development
The £400 million Brookfield Riverside development in Cheshunt, will create a new town centre for the Borough which is envisaged to include up to 315,000 sq ft of retail, 250,000 sq ft of leisure, restaurants and a cinema, 160,000 sq ft of offices including a new civic hub, approximately 250 homes and 100 assisted living units, a 2,500-space car park and major public realm improvements. It will also generate 2,000 new jobs during and after its development.
The site forms part of a much larger development, comprising 330 acres in total, which will see 1,250 new homes constructed in the adjacent Brookfield Garden Village.
The signing of the agreement follows a competitive tendering exercise which took place in 2019 run by the councils’ advisors, Cushman & Wakefield.
The Leader of Broxbourne Borough Council, Councillor Lewis Cocking commented:
A development at Brookfield has long been an ambition of the Council. It is crucial for the long-term economic recovery of the Borough post COVID-19 and will create over 2,000 new jobs during and after its development.
Brookfield Riverside will provide an opportunity for local people to access a range of shopping and leisure facilities, including a cinema in a high-quality, sustainable location.
David Williams, Leader of Hertfordshire County Council added:
We’re excited to be working in partnership with Sovereign Centros and Peveril Securities on this major new mixed-use development. The Brookfield Riverside project will be transformative and will make an important contribution towards our recovery following the economic impact of COVID-19.”
Our vision for good growth in the county is to build a bright future for everyone, ensuring we provide sustainable communities where families can live, learn and work all in one place. This development agreement means that we, alongside the Borough of Broxbourne, can provide new infrastructure that is capable of supporting our growing population.
A planning application for the site is expected to be submitted later this year.