Councils appoint developer for £400m Brookfield Riverside

Published: 02 Jul 2019

We and Broxbourne Borough Council have chosen Sovereign Centros as our development partner for the £400m mixed-use scheme at Brookfield Riverside, Cheshunt.

Located at the Turnford interchange on the A10, and three miles north of junction 25 of the M25, the 50-acre Brookfield Riverside site is regarded by many as one of the most attractive development opportunities of its kind in the country.

The site forms part of a much larger development – ‘Brookfield’ – comprising 330 acres in total, which will see 1,250 new homes constructed in the adjacent Brookfield Garden Village as well as around 250 dwellings within Brookfield Riverside itself. With the benefits of an enhanced road infrastructure and potentially Crossrail 2, the area is planned to become what will effectively be a new town centre and adjoining community for Broxbourne.

The site, with its proximity and connectivity to central London, is perceived to be very attractive to potential occupiers. The development will create a totally new identity for the area, with buildings and an associated environment of the highest quality, and will generate 2,000 new jobs.

Sovereign Centros’ appointment follows a competitive tendering exercise run by the councils’ advisers, Cushman & Wakefield.

Councillor Lewis Cocking, Leader of Broxbourne Borough Council, said:

“This will be one of the most exciting projects that has been seen in Broxbourne for many years.

“It will provide an opportunity for local people to access a range of leisure facilities, including a cinema, as well as jobs, homes and shopping closer to home; all in a high-quality, sustainable location.

“I am confident that it will enhance the perception of the borough and make it an even better place to live, work and invest.”

Councillor David Williams, Leader of Hertfordshire County Council, said:

“The Brookfield Riverside scheme is an exciting project which demonstrates our commitment to keeping Hertfordshire a wonderful place to live and work for current residents and future generations.

“Our vision is to focus on supporting the development of economically, socially and environmentally sustainable communities - where families can live, learn and work all in one place. Local jobs are crucial to achieving sustainable growth.

“Both the Riverside and Brookfield Garden Village developments are great examples of how we’re preparing to put the infrastructure in place to make our residents’ lives even better.

“We could have 175,000 more people living in Hertfordshire by 2031, so we must be ready to support them by addressing key issues like transport, schools and healthcare services.”

Chris Geaves, Chief Executive of Sovereign Centros, said:

“We are absolutely delighted to be chosen as the councils’ partner. It has been refreshing to work with a team who are so focused and intent on delivery. This is an amazing opportunity to develop in a very underdeveloped and untapped segment of the country, on the edge of London, to create a development which is really different to that anywhere else in the UK.

“The mixed-use nature of the scheme will be hugely appealing and it will recognise and address in particular how retailing and leisure is changing, and provide something which is totally appropriate and relevant but equally exciting. We are really looking forward to taking it forward.