Meridian Water is a £6bn, 20-year regeneration programme led by Enfield Council, which will bring 10,000 new homes and employment space for 6,000 jobs to Enfield. Through a series of carefully planned phases, the masterplan for Meridian Water will create a truly mixed-use community for London next to the beautiful Lee Valley Regional Park.
Meridian Two will comprise up to 300 affordable homes, as well as 3,000 sq m of workspace and creative facilities designed specifically for start-ups and entrepreneurs in the local area. The launch of this phase kick-starts the search for a development partner.
In February 2018, Lambert Smith Hampton won a competitive tendering process to advise Enfield Council on the entire Meridian Water scheme.
Under the three year contract, Lambert Smith Hampton has created a 25-year cashflow-based financial model for the entire masterplan to establish the optimum delivery route for the regeneration, while advising on all aspects of the scheme including valuation, delivery options, meanwhile uses, agency advice and the council’s bid for £156 million of government infrastructure funding.
A key part of Lambert Smith Hampton’s work is to advise Enfield Council on the Official Journal of the European Union (OJEU) process that must be followed during the selection of development partners for public sector procurement.
As well as working to secure a partner for Meridian Two, Lambert Smith Hampton is currently leading the procurement of a development partner for Meridian One. This first phase of the masterplan has planning permission for 725 homes, a new railway station and property for community, leisure and retail uses. The selected development partner will be announced in May.
Stephen Armitage, Director in Real Estate Advisory at Lambert Smith Hampton and lead contact for Meridian Water, said: “Our appointment to advise Enfield Council on this monumental scheme for London draws on the skills of many members of our team. Our in-depth knowledge of developer procurement and our expertise in complex redevelopment projects will provide the support that Enfield Council has been looking for.”
Peter George, Programme Director of Meridian Water at Enfield Council, commented: “We are delighted to have Lambert Smith Hampton as our advisor on Meridian Water, which will totally transform this area of London. We are extremely excited about the opportunities presented by all phases of the masterplan and Lambert Smith Hampton’s abilities to advise us on all financial, development and planning aspects will ensure we deliver the most vibrant mixed-use community possible.”
For more information, visit the Meridian Water website.
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